Zamano seeks £7 million
Article Date: Oct 09 2006Dublin-based mobile data services outfit Zamano, a rapidly growing provider of games and text message dating content to the 02s and Vodafones of this world, is looking to raise up to £7 million of new money ahead of a listing on AIM later this month. Seymour Pierce is on board as adviser and broker to the float, which should see the business priced at £15 million.
Set up in 2000 to tap growing demand for mobile services, Zamano is bossed by managing director John O’Shea. He claims the firm is ‘a market leader in Ireland’, has a strong footing in the UK and kick-started sales into Australia earlier this year.
Via an innovative mobile messaging platform, Zamano is able to promote and distribute its services directly to consumers, as well as facilitate commerce between businesses, brands and their end-users. This ‘hybrid’ model, says O’Shea, lends the company significant advantages in its sector.
He says the AIM quote will more readily allow acquisitions, investment in new technology and expansion into new territories.
Apparently, Zamano enjoyed dazzling sales and profits growth between 2003 and 2005, boosted by acquisitions, and operates in a global mobile content market set to be worth $50 billion by 2011.
Chairman Rod Matthews is a former chief executive of Scottish Telecom, which he grew from start-up to sales of more than £200 million. He also chaired AIM-quoted Transcomm, which was sold to BT in 2004.
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