Zamano eyes acquisitions as it shifts towards higher value services
Irish-listed mobile phone technology company Zamano will seek acquisitions as it seeks to shift into higher value services.
The company said it has specific bolt-on targets in its sights in mobile advertising, social and billing
The company announced that its second quarter profits were lower as a result of increased advertising spend and effects of uncertainty in the UK.
Zamano said a strategic review completed in June came back with a recommendation to pursue new revenue growth strategies.
The review stated that the company should embark on a “growth-oriented acquisition programme in the mobile advertising, social and billing areas. It added that it has identified potential acquisitions in each sector.
The company also announced the appointment of technology entrepreneur Edmond Murphy to the board as a non-executive director. Mr Murphy will assist the board with the implementation of the company’s strategic review.
Commenting on the appointment, Colin Tucker, Chairman, said:
"We are delighted to welcome Eddie to the Board of Zamano. His extensive experience in payments, social media and advertising will be of considerable benefit to Zamano as we actively pursue the re-positioning of the business".