Amino Technologies plc, a broadband network software and systems group, has acquired struggling AssetHouse Technologies, a software business with BT as its main client.

Amino Technologies plc, a broadband network software and systems group, has acquired struggling AssetHouse Technologies, a software business with BT as its main client.

The £1.4 million deal funded from Amino’s existing cash resources will broaden the Cambridge company’s scope, offering IPTV service operators a larger range of technologies and giving it access to the emerging online video services market.

Based in Guildford, AssetHouse develops and sells software, which enables IPTV service providers to improve the packaging, management and delivery of content to subscribers.

AssetHouse posted weak results at the end of May, with operating losses of approximately £1.4 million on a turnover of £0.4 million.

Keith Todd, Amino chairman, said: “The acquisition marks the start of the next phase of growth for Amino. Although currently loss making, we are confident that the acquired business will generate significant incremental profits for the enlarged group.”