Published on: May 14, 2021
MobiTV update, placing to fund future growth
Amino has announced that it has been selected as the reserve bidder in the auction of the trade and certain assets of MobiTV, the US-based TV platform provider. The group has also confirmed a (gross) £9.4m fundraise to fund future acquisitions and that trading since the FY 20A results announcement has continued in line with management’s expectations. We see several positives in this week’s announcement. Although so far unsuccessful, Amino’s involvement in the MobiTV auction process is in our view a clear signal of the group’s ambition, and the fundraise demonstrates strong investor confidence in the Amino growth story. With M&A a key element of that, the MobiTV outcome also highlights the group’s strict valuation criteria for acquisitions, and also its willingness to work with partners – in this instance Roku and RPX – to maximise the value of M&A.