Artilium PLC Acquisition (6698S)

TIDMARTA

RNS Number : 6698S

Artilium PLC

23 December 2016

Artilium plc

('Artilium' or the 'Company')

Artilium acquires ELLO Mobile

Artilium plc (LSE/AIM: ARTA), the AIM quoted provider of innovative telecommunication software and solutions, is pleased to announce the acquisition, through its subsidiary United Telecom NV ("United Telecom"), of the entire issued share capital of ELLO BVBA ("ELLO Mobile"), an MVNO based in Belgium (the "Acquisition"). Consideration for the Acquisition is EUR300,000 which is being satisfied by the immediate issue of 3,823,636 new ordinary shares of 5 pence each ("Ordinary Shares") at a price of 6.6 pence per Ordinary Share (the "Consideration Shares").

Highlights

   --    Artilium to acquire ELLO Mobile (www.ello-mobile.be) for a total consideration of EUR300,000; 

-- Consideration to be satisfied by the issue of 3,823,636 new Ordinary Shares at 6.6 pence per share, locked in for 24 months; and

-- ELLO Mobile adds an excellent mobile brand with a loyal following to United Telecom's offering.

About ELLO Mobile

Ello Mobile is the mobile services provider that gives back. Ello Mobile currently donates its entire profit to social-minded and non-profit charity projects. Since its inception, Ello Mobile has donated more than EUR1 million to good causes.

Ello Mobile is based in Belgium and in the year to 31 December 2015 generated revenues of EUR698,222, EBITDA of EUR181,670 and had net liabilities of EUR47,085 as at that date. United Telecom has committed to donate a minimum of EUR50,000 per annum to charitable organisations in each of the three years following completion of the Acquisition.

Bart Weijermars, Chief Executive Officer of Artilium said:

"With the acquisition of Ello Mobile and its customer base we are adding a very exciting brand to our business which is different from the big mobile brands. Our customers get a top service and contribute to charities at the same time."

Application has been made for the 3,823,636 Consideration Shares to be admitted to trading on AIM ("Admission") and Admission is expected to take place on 30 December 2016. The new Ordinary Shares will rank pari passu with the existing ordinary shares of the Company.

Following Admission the total number of issued Ordinary Shares in the Company will be 309,934,681 Ordinary Shares. This figure may be used by shareholders of the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to the interest in, the Company under the FSA's Disclosure and Transparency Rules.

For further information please contact:

 
 Artilium plc 
  Bart Weijermars - Chief Executive          +32 (0)502 
  Officer                                     30300 
 
 
 finnCap Ltd 
  Jonny Franklin-Adams & Scott Mathieson 
  (corporate finance)                        [phone] 
  Joanna Scott (corporate broking)            0500 
 

About Artilium

Artilium is a demonstrated leader in the development of next generation communication technologies. Artilium's strategy focuses on supporting its customers to successfully grow their business by providing flexible, cost effective and innovative solutions.

Artilium's innovation-driven strategy empowers telecom operators around the globe to face the tremendous challenges ahead. We combine next-generation technology with traditional telecom environments to create exciting new business opportunities for our customers. This ensures that our customers are able to keep up with rapidly evolving market demands while simultaneously growing their businesses.

ARTA(R) is the real-time Authentication, Authorization and Accounting (AAA) software that brings a full suite of new functionalities to telecom Operators and virtual Operators. Thanks to ARTA(R) value-added services portfolio, including for instance AAA of voice, text and data services, VoIP, 3G and 4G compliance, mobile payments and location-based services, our partners are more than ready to meet future customer needs.

Today, multiple renowned national and international telecommunication companies rely on Artilium to deliver voice, text and data services to about 1.5 Million end users every day.

Artilium's "Pay-As-You-Grow" model allows us to scale our solutions to the exact needs of our customers. As a latest innovation, Artilium offers its product suite from the Cloud as a PAAS (Platform As A Service), yielding ARTA's scalability, flexibility and proven stability.

Artilium PLC is a publicly listed software company on the London Stock Exchange (LSE/AIM: ARTA).

This information is provided by RNS

The company news service from the London Stock Exchange

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December 23, 2016 02:00 ET (07:00 GMT)