Swedish company, Tilgin AB, has sold its IPTV business to UK-based Amino Technologies Plc, in order to focus on expanding its profitable IP Residential Gateway business.
Amino acquired the IPTV business for SEK 30.0 million due in cash on 1 December 2008, with an additional payment of up to SEK 15.0 million depending on earnings.
As Amino already has a broad IPTV product portfolio, it is well placed to further develop Tilgin’s IPTV business and take it to the next level.
The business has not yet achieved the volumes it needs to be sustainably profitable.
Amino and Tilgin are also entering into a sales partnership for IP Residential Gateways.
Tilgin’s 36 employees in its IPTV business will transfer to Amino as part of the transaction.