Amino pays £1.3 million for local firm
Amino, the Cambridge based broadband network software and systems company, has acquired SJ Consulting Limited for £1.3 million.
Also based in Cambridge, SJC is a software company that has developed advanced video codec products such as MPEG4 (H.264) and Windows Media/VC1.
The intellectual property for these codec products has been licensed and deployed in an array of set top boxes for several customers including Amino.
The company’s primary focus is in embedded systems design, particularly for advanced networked equipment using technologies such as MPEG, ATM (Asynchronous Transfer Mode) and wireless ethernet.
SJC also has considerable experience of video-on-demand systems, having participated in the ‘leading edge’ Cambridge video-on-demand trial.
In the year to March 31, 2005, SJC had a turnover of £504,000 and profit before tax was £166,000.
Net assets at completion are expected to be approximately £400,000, the bulk of which is represented by cash and receivables.
An initial cash consideration of £800,000 is being paid on completion of the acquisition and a total of 300,000 Amino ordinary shares will be allotted to the vendors in three equal tranches on the first, second and third anniversaries.