Friday 24 March 2017

Zamano shares sink as talks end

John Mulligan

John Mulligan

Zamano specialises in text services and games
Zamano specialises in text services and games

Irish technology firm Zamano said it's no longer in talks with a potential suitor about an offer for the firm, sending its shares plunging 14pc.

Zamano was the target of a takeover approach that was made back in August at 20 cent per share. Since then, the company had continued negotiating with that unnamed suitor, but no formal offer had been put to shareholders.

Zamano develops and sells mobile solutions such as messaging, advertising and payment support tools to clients.

In a statement to the stock exchange yesterday, the company said that the talks about a possible offer have now ended.

"All discussions regarding the approach have now been terminated and the company is no longer in talks regarding a possible takeover," it said.

The company added: "Following the termination of discussions regarding the approach, Zamano will continue to seek investment, acquisition and joint venture opportunities to enable it to grow and diversify its business."

It said it will continue to lever its expertise in data analytics, mobile payments and mobile marketing to sustain and develop its operations during the second half of 2015 and beyond.

Irish Independent

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