Lenders Barclays, Bank of Ireland and HSBC have agreed a short-term extension of Aferian’s secured facilities of $16.5 million (€14.05m) from September 30th to November 30th to enable the company to try and sell its Amino and 24i businesses and/or the group.

The borrowing could be extended beyond November 30th if talks are progressing. The board has now invited expressions of interest.

The formal sale process is being managed by the Board, advised by Zeus Capital Limited in respect of their obligations under the Takeover Code, reports businessweekly.

Aferian has two operating divisions: 24i, which focuses on streaming video experiences, and Amino, which connects pay-TV to streaming services. Its two complementary companies combine their products and services to create solutions which ensure that people can consume TV and video how and when they want it.

Headquartered in Cambridge, UK, the company has offices in San Francisco, Amsterdam, Helsinki, Copenhagen, Madrid, Porto, Brno and Hong Kong.

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Categories: Articles, Business, M&A

Tags: 24i, Amino