Amino Technologies, a Cambridge-based broadband network software and systems group, has signed a sales and purchase agreement for the acquisition of Tilgin AB’s IPTV set-top box division for an initial consideration of SEK30 million (£2.5 million) in cash.

Amino Technologies, a Cambridge-based broadband network software and systems group, has signed a sales and purchase agreement for the acquisition of Tilgin AB’s IPTV set-top box division for an initial consideration of SEK30 million (£2.5 million) in cash.

The acquisition will give Amino access to additional middleware services, such as Ericsson and Nokia Siemens Networks, as well as extending the group’s customer reach. Further payments of up to SEK15 million are expected it certain sales targets are met in 2009.

Sweden-based Tilgin IPTV is a technology player within the European IPTV market. IPTV (Internet Protocol Television) is television content delivered through computer network technology instead of traditional broadcast formats.

Keith Todd, Amino’s chairman, said: “Amino’s strong market position makes it the ideal consolidator in a market that is growing and maturing. We are confident that the acquired business will offer incremental profits for the enlarged group as we leverage their portfolio through our stronger global distribution channels.”