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Amino attracts $3.5million investment to fund company growth


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Amino attracts $3.5million investment to fund company growth

Pioneering set-top box designer and manufacturer Amino Communications has attracted $3.5million in a third round of funding led by advisors KBC Peel Hunt Ltd. Amino will use this investment, which follows significant sales success, to strengthen its balance sheet in response to its growing order book. The primary investors were the company's existing shareholders: a combination of financial institutions, trade partners and high net worth individuals.

"Amino has had significant success with its compact, price-competitive set-top boxes which are currently being trialled with over 80 companies around the world," said Stuart Darling, Finance Director. "This new funding provides Amino with the working capital and balance sheet strength necessary to fund substantial sales growth with customers across the world."

At the end of last year, the company launched the first product in its new series of small, low-cost set-top boxes for multimedia distribution in networked environments. The AmiNET100, believed to be the smallest and most integrated set-top box available, offers cost benefits for online service providers and telecoms companies by reducing the capex requirements of network installations. It is currently being trialled by major vendors such as Ericsson in Sweden.


18/03/2003