Following the news that T-Mobile Czech Republic and Slovak Telecom have deployed 24i’s Smart Operator suite, Amino has confirmed a contract win with streaming video service Topic for 24i’s Smart OTT and Smart BACKSTAGE products. The releases do not comment on their potential values to Amino, and we leave forecasts unchanged. However, against the backdrop of ongoing COVID-19-driven global macro uncertainty, in our view the announcements represent welcome positive news flow. The contracts demonstrate further progress in both Amino’s move towards a more software-led business model and the group’s ability to address a more diverse client base.
Topic to deploy Smart OTT and Smart BACKSTAGE: US-based First Look Media, has selected 24i's Smart OTT video applications to power its new Topic streaming entertainment service on the web and via Apple, Android, Amazon FireTV and Roku devices. In addition, Topic has selected 24i's Smart BACKSTAGE cloud- based Content Management System to ensure high-quality service delivery. First Look Media was launched in 2013 by eBay founder Pierre Omidyar and we believe it is a useful reference client.
Smart Operator deployments in the Czech and Slovak Republics: Amino has confirmed the first large-scale multi-national deployment of 24i's Smart Operator product. 24i will provide IPTV and TV Anywhere video experiences to T-Mobile TV GO, Magio GO and Digi GO customers in the Czech Republic and Slovakia. The contact includes a customisable User Experience, EPG and Cloud and STB PVR functionality and will be deployed across STBs, Smart TVs and Apple and Android devices.
Further traction in software: Both contracts are for standalone software. With Amino having reported 41% YoY growth in software and service sales in the FY 19A results, the two deals represent further progress in the group's move towards a more software-led business model.
Wins with diverse clients and deepening an existing relationship: TMobile Czech Republic and Slovak Telecom are both carriers owned by Deutsche Telekom. T-Mobile is an existing Amino client, the group most recently signed an upcycling deal with T-Mobile Netherlands in 2018. The Czech/Slovak announcement therefore signals the deepening of a core existing relationship. First Look Media is a content creator and streaming media provider. Taken together, in our view the announcements demonstrate the Amino group’s ability to address a more diverse customer base following the 24i acquisition.