Market leader in Ireland looks to strategic development
zamano, a leading provider of mobile data services, has today announced the commencement of dealings of its Ordinary Shares on the Alternative Investment Market (AIM) of the London Stock Exchange.
According to zamano, the placing has raised 6m euros for the company which, it says, will enable the delivery the three primary strategic objectives of further strategic acquisitions, increased investment in new technology, and expansion into new territories.
Established in 2000 to take advantage of a growing demand for mobile services, zamano is now said to be a market leader in Ireland, has a strong presence in the UK, and commenced trading in Australia in early 2006.
Since its establishment, zamano has invested significantly in the development of a mobile messaging platform and suite of applications. Using this platform, the company promotes and distributes its services directly to consumers (B2C) and also facilitates commerce between businesses, brands and their end-users (B2B). zamano believes that this ‘hybrid’ model is a significant advantage in its sector.
According to zamano, the B2B business accounts for approximately 65% of overall company revenues. Approximately 35% of revenues are generated by mobile content and interactive services in the B2C business. Interactive services include competitions, quizzes, horoscopes, chat and dating. zamano believes that strong future growth prospects exist for both the B2B and B2C businesses.
According to Juniper Research, the global market for mobile content is predicted to be worth $11bn in 2006, and is expected to grow to $50bn by 2011.
Commenting on the listing, John O’Shea, Managing Director, said: “Solid investor support for our listing on AIM is a strong endorsement of our achievements to date and demonstrates their confidence in our strategy going forward. All the staff at zamano have worked hard and shown tremendous commitment in reaching this point; together we look forward to the future with confidence and optimism.”
Rod Matthews, Non Executive Chairman, added: “We are delighted by the positive response from quality institutional investors to the fund raising. This reflects the strength of zamano’s management, record-to-date and position in the rapidly expanding mobile content marketplace. Having successfully completed this phase of zamano’s development, we are now well positioned to deliver superior shareholder returns by continuing to implement our strategy.”