Zamano takes AIM for float
Published 25/09/2006 | 00:11
ZAMANO, the Dublin-based mobile phone services firm, has hired financial adviser Seymour Pierce ahead of an expected flotation on London's AIM market. The company had revenues of about ?10m in 2005.
ZAMANO, the Dublin-based mobile phone services firm, has hired financial adviser Seymour Pierce ahead of an expected flotation on London's AIM market.
The company had revenues of about ?10m in 2005 from services including games, text message dating and premium rate texts.
The firm's investors include Quinlan Private Capital (QPC), the investment house owned by financier Derek Quinlan.
QPC became a shareholder when it bought Powerscourt Capital Partners in Dublin, which was an early investor in Zamano.
Other investors include Enterprise Ireland, while its customers include the mobile phone companies, RTÉ, TV3, Setanta and 'Buy & Sell'.
The mobile market accounted for almost 50pc of the ?4bn Irish telecommunications market in 2005, according to consultants iReach.
According to iReach, the figures highlight the growing trends towards mobile devices, with convergence in the digital media market being driven by technological innovations which fuel demand for digital content and mobile devices.
As mobile appetite grows, the demand for 3G phones is also expected to increase. iReach predicts that 60pc of Europeans will have 3G devices by 2010, with PCs and mobile phone music downloads also expected to expand rapidly, growing to 36pc of all music sales by 2011.
It is estimated that the total Irish spend on ring tones for 2005 was ?1.3m with forecasted growth over the next few years due to higher mobile penetration rates.
iReach has predicted there will be rigorous competition in 2006 between the IT and home entertainment sectors as they seek to gain market share in the digital media phenomenon.