Mobile firm Zamano eyes merger with Silicon Valley-based SoHalo
Irish-listed mobile phone technology company Zamano is eyeing up a merger with Silicon Valley-based SoHalo, the Sunday Independent understands.
The deal, if it proceeds, would have the potential to reposition 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.
One notable feature is that its platform enables marketers to reward customers - in the form of things like loyalty programme points, event tickets and Visa and Amazon gift codes - for connecting their social media profiles to the marketers' company or brand.
SoHalo is based in Redwood City, between San Francisco and San Jose in California.
Zamano has already guided the market that it is on the hunt for deals.
"During 2015, the group examined a number of opportunities in mobile media, payments and messaging, with a view to growing the business and diversifying its product and service base," the company's CEO Ross Conlon said when Zamano reported its 2015 full-year results, in which it announced a 12.9pc jump in pre-tax profit to €2.4m.
"In 2016, it remains an ongoing objective of the group to find acquisition or partnership opportunities for the business in the web and mobile marketing space," he added.
Zamano already has a mobile marketing product, Message Hero, which allows marketers to reach their customers via text message.
For 2015, it reported a jump in end-of-year net cash from €4.6m to €6.3m.
Other products in the company's innovative portfolio 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.
A conditional approach to buy Zamano for 20c a share was made by an undisclosed buyer last year, but the deal did not proceed.
The Sunday Independent understands that this deal did not go through as the parties were unable to agree on terms.
Informing the market in October that the deal had failed to progress, Zamano said it would "continue to seek investment, acquisition and joint-venture opportunities to enable it to grow and diversify its business".
When contacted by the Sunday Independent, a spokesperson for Zamano said the company had no comment to make. SoHalo did not respond to a request for comment.
Sunday Indo Business