Amino acquired Booxmedia to offer cloud TV solutions to new market segments in OTT multiscreen TV. Helsinki, Finland based Booxmedia is a Software-as-a-Service (SaaS) cloud TV platform provider founded in year 2009. cloud TV solution from Booxmedia covers media capture, encoding, transcoding, storage and delivery and provides ready-to-deploy “TV as an app” for iOS, Android and Windows smart phones as well as any Internet connected computing supporting devices with browsers such as smart TVs, gaming consoles, set-top boxes and home gateways.
Some of the interesting functions offered in the Cloud TV product by Booxmedia includes streaming of live HD TV, access to catch-up TV, video on demand and cloud-based recording, and interesting function called “Follow-me” where the user can tell the device to stream the content in another device without interruption. Example when somebody's watching a video on a smart phone, the moment the user reach a place where a big screen such as LCD TV is available, the content what they are watching on the smart phone can be immediately displayed on to bigger screen from the point where it ended in earlier device.
Booxmedia also patented functionality to use smart phone as an intelligent remote controller for any internet connected TV screen.
Existing customers of Booxmedia include Finnish quad play operator DNA Oy, which offers a “TV everywhere” smartphone and tablet service based on the Booxmedia platform.
Amino said the acquisition of booxmedia will enhance its capability in Cloud TV services where it has already delivering IP-based entertainment services on a range of IPTV devices. Amino says its IP entertainment delivery is extended beyond its current connected home focus and aligns the Group with the industry shift towards “TV everywhere” viewing.
Amino has acquired Booxmedia for an initial consideration of €7.9m including its estimated net cash at completion of €0.5m.
Donald McGarva, Chief Executive Officer of Amino Technologies plc, said: “This important acquisition is closely aligned with our stated strategy and vision of the future of entertainment and the major industry shift towards TV viewing anytime, anyplace, anywhere."
Jukka Sintonen, CEO of Booxmedia, added: “The capabilities of Amino and Booxmedia align very closely with the industry shift towards both home and mobile entertainment consumption. We look forward to working with our new colleagues in increasing the scope and reach of our solutions to the global market.”
It is predicted that mobile video will account for more than 20 per cent of total viewing minutes by 2025.