UK tech firm Amino crosses the Atlantic to buy-up US internet TV rival Entone

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Internet TV provider Amino yesterday agreed a $73m (£46.7m) deal to purchase its leading US rival, Entone.
 
The Cambridge-based company, which in May bought TV everywhere provider Booxmedia, is set to acquire Entone, a leader in the US internet protocol TV (IPTV) market and has more than 150 customers around the world.
 
“The proposed acquisition of Entone has the potential to transform our business and broaden our capabilities and market reach globally across IPTV, hybrid broadcast and a range of connected home solutions,” Donald McGarva, Amino’s chief executive, said in a statement.
 
Meanwhile, Amino also reported a strong set of half-year results, with revenues up £17.9m from £16.4m on the year and net profit doubling to £3.6m, from £1.8m the year before.
 
Shares in Amino closed up 6.83 per cent at 148.50p.