Software-led media company Amino Technologies has submitted a bid to acquire TV platform provider MobiTV.
Based in the United States, MobiTV provides a TV-as-a-Service (TVaaS) solution that allows operators to fully modernise their pay-TV offering to consumers, reduce costs, utilise network bandwidth more efficiently and to enable the future upgrades of new services and features.
It is currently in the bankruptcy process in the US.
According to Amino, an acquisition would immediately establish a TVaaS infrastructure capability in the USA for the company, which its board estimates would require significant investment over a 6-12 month period to develop organically.
Whether Amino’s bid is successful will be decided by a bankruptcy court in Delaware following an auction process to be held on 11th May 2021.
Once the auction has been completed, a hearing before the court to request approval of all aspects of the sale to the winning bidder is scheduled for 21st May 2021. The acquisition of the trade and assets of MobiTV must close by 31st May 2021.
Amino said the costs and working capital commitments associated with the acquisition are to be funded by the company’s existing cash resources and available credit facilities, as well as a release of extra shares.