25 May 2012

Zamano dials up first deal

02/05/2007 James Crux

Mobile data services and technology counter Zamano has completed its first acquisition since listing on AIM in October with a £4 million funding at 24p. Managing director John O’Shea has unveiled the acquisition of Eirborne – a fast-growing Irish mobile content company that, like Zamano, is burgeoning within the UK, Irish and Australian markets – in a deal capped at C8.5 million (£5.8 million).

Eirborne, which provides mobile phone entertainment services such as music, videos and games to more than 100,000 subscribers, also provides text and picture messaging services for youth-oriented websites such as MySpace and Bebo.

‘It really accelerates our entry in the web space,’ says O’Shea, ‘and the deal will enhance earnings in the first full year. It’s a low-risk acquisition because they were a customer of ours and we know them.’

One arm of Irish outfit zamano serves business customers and brands wanting to interact and sell services to mobile users, while its Mobile X brand is sold directly to phone owners. This way, O’Shea says, he can maximise economies of scale, spread investment costs over a wider revenue base and deliver ‘industry-leading’ margins.

Before this maiden acquisition, zamano had smashed City forecasts with pre-tax profits surging ahead 71 per cent to C2.2 million (£1.5 million), as sales dialled up by 38 per cent to C13.4 million (£9.2 million) – representing a fourth successive year of bumper growth.
Currently valued on AIM at £19.7 million at 29p per share, zamano also boasts a quote on Ireland’s IEX.

Companies: Zamano

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