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Tilgin AB sells IPTV business to British firm Amino Technologies Plc
(Nordic Business Report Via Acquire Media NewsEdge)
Swedish VoIP, IPTV and Internet access solutions provider Tilgin AB
(OMX Stockholm:TILG) said on Thursday (20 November) that it has agreed
to sell its IPTV business, Tilgin IPTV AB, to the UK company Amino
Technologies Plc.
The sales consideration comprises a fixed payment of SEK30m and
additional payments of up to SEK15m based on future performance.
The divestment is part of Tilgin's strategy to focus on its IP
Residential Gateway business.
Tilgin IPTV has 36 employees and reported net sales of SEK6.7m in the
third quarter.
Tilgin and Amino Technologies have also agreed to cooperate within
sales of IP Residential Gateways.
Tilgin, headquartered in Kista, Sweden, develops and supplies customer
premises equipment (home gateways, IP media terminals and service node
management solutions) for the Triple Play market. The company has 115
employees and reported sales of SEK391m in 2007.
One British pound (GBP) is worth approximately 11.81 Swedish kronor
(SEK).
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