Globo plc EUR14 million Proposed Acquisition (8787Z)
23 Septiembre 2015 - 1:00AM
UK Regulatory
TIDMGBO
RNS Number : 8787Z
Globo plc
22 September 2015
23 September 2015
GLOBO plc
("Globo" or "the Group")
EUR14 million Proposed Acquisition
LONDON: Globo plc (LSE-AIM: GBO / OTCQX: GOBPY), the
international provider of Enterprise Mobility Management (EMM),
mobile solutions and software as a service (SaaS), announces that
it has signed a conditional Letter of Intent (LOI) to acquire the
business and assets of a Bring-Your-Own-Device (BYOD) and Mobile
Security software provider (the "Company") based in Europe. The
Vendors of the Company have requested for commercial reasons that,
until a final agreement is reached, the Company name remains
confidential.
The Company offers a set of security solutions for the mobile
industry with strong focus on BYOD and Mobile Applications
Security. The Company has a successful track record with customers
in the banking, finance and public sectors, and has built a strong
reseller network including telecommunications companies, IT
solutions providers and mobile technology players. The Company's
strategic value to Globo is to enhance the GO!Enterprise portfolio
with certain aspects of security that are not covered in the
current GO!Enteprise platform, and provide instant access to
certain additional regulated financial markets. There is no current
overlap between the Company's and Globo's personnel and customer
bases.
The Company's revenue is based predominantly on annual recurring
license fees, and has a projected December 2015 year-end IFRS
adjusted EBITDA of EUR900k, with considerable EBITDA growth
predicted over the next two years. The basic terms of the LOI
include a total acquisition value of EUR14.0 million with an
upfront payment of circa EUR6.5 million. The remainder is then
payable in a schedule of earn-outs based on successful delivery of
profitability within the two years immediately following closure of
the transaction. The initial portion of the acquisition will be
paid in cash, whilst earn-outs will be based on a combination of
cash and new stock in Globo plc, aimed at incentivising successful
integration and performance of the Company.
Globo CEO Costis Papadimitrakopoulos commented:
"I am pleased to announce the signing of this LOI, as we have
been acutely focused on this strategic transaction over recent
months. The addition of both the technology and team will bring
substantial benefits to Globo, enhancing our product portfolio with
new functionalities and strengthening our solutions' security. We
expect that the acquisition will be completed during October and to
be immediately earnings enhancing. We continue to evaluate other
acquisition opportunities."
The Letter of Intent is conditional on, amongst other things,
satisfactory Due Diligence.
For further information please contact:
Globo plc +44 20-7378-8828
Costis Papadimitrakopoulos, CEO
Dimitris Gryparis, Finance Director
Mike Jeremy, IRO
RBC Capital Markets +44 20-7653-4000
(Nominated Adviser & Broker)
Pierre Schreuder or Ema Jakasovic
Canaccord Genuity +44 20-7523-8000
(Joint Broker)
Simon Bridges or Emma Gabriel
Brunswick Group +44 20-7404-5959
Chris Blundell or Charles Pemberton
About Globo
Globo Plc is a global provider of complete enterprise mobility
solutions and SaaS. Our GO!Enterprise (EMM) and GO!AppZone (MADP)
offerings help businesses expand their engagement with employees
and customers through the mobile channel via a secure and
extensible environment that runs on all smart devices. The Group
operates internationally through subsidiaries and offices in the
U.S., U.K., Europe, Middle East and South East Asia. Globo was
included in the 2014 Gartner Enterprise Mobility Management Magic
Quadrant report, in Ovum's 2014-15 Decision Matrix for EMM
Solutions and 2015-16 Decision Matrix for MADP Solutions, and in
IDC's January 2015 report on Mobile Enterprise Application
Development Platforms. For more information visit
www.globoplc.com.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQSEDFWEFISEFU
(END) Dow Jones Newswires
September 23, 2015 02:00 ET (06:00 GMT)
Globo (LSE:GBO)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Globo (LSE:GBO)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024