Monday 23 April 2018

Chief executive resigns from mobile tech firm Zamano

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

Donal O'Donovan and Gavin McLoughlin

The chief executive of Irish-listed mobile phone technology company Zamano has announced his resignation.

Stock market-listed Zamano said last night that Ross Conlon had tendered his resignation as ceo and as a director of the company with effect from May 9 to pursue other interests.

He has agreed to facilitate a smooth handover to a successor, and a process to find a new ceo will kick off immediately.

Ross Conlon was named as ceo at the start of 2014, having joined the company in 2007.

Zamano is profitable and has been linked to a number of potentially transformative deals over the past year, which have so far all failed to close. A conditional approach to buy Zamano for 20c a share was made by an undisclosed buyer last year, but that did not proceed.

That is understood to have fallen apart because the parties were unable to agree on terms.

In March, the 'Sunday Independent' reported that Zamano was eyeing up a merger with Silicon Valley-based SoHalo.

Zamano had previously guided the market that it is on the hunt for deals, after reporting a jump in end-of-year net cash from €4.6m to €6.3m for 2015. The US deal, if it proceeded, would help Zamano to take advantage of the fast-growing mobile-marketing sector and drive growth. SoHalo's products are designed to enable marketers to engage more deeply with their target audience.

Zamano already has a mobile marketing product, Message Hero, which allows marketers to reach customers via text message. Its other products include a cloud-based messaging service intended for businesses and a mobile payments product that allows people to pay for products by having a charge added to their mobile phone bill.

Zamano's 2015 full-year results showed a 12.9pc jump in pre-tax profit to €2.4m. Shares in Zamano closed down 9pc yesterday at 11 cents each.

Irish Independent

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