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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Eservglobal Limited | LSE:ESG | London | Ordinary Share | AU000000ESV3 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.45 | 5.40 | 5.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:7825R eServGlobal Limited 23 February 2007 eServGlobal Announces Acquisition of Assets of Empower Interactive Group Limited. Sydney 23 February, 2007 eServGlobal Limited (ASX: ESV and LSE: ESG), a worldwide supplier of telecommunications Value Added Services solutions for Messaging and Charging, today announced the acquisition of the assets of Empower Interactive Group Limited (EIG). EIG supplied mobile messaging solutions to telecommunications operators around the world, its clients including 7 operators in one of the world's largest Mobile Communications groups and also several major carriers in South East Asia. Products developed and supported by EIG included a Messaging Service and Delivery Platform which enables the delivery and charging of 3rd party content and applications via SMS and MMS; and a Message Storage & Retry system for SMS and MMS. Founded in 2000 and financed by Venture Capital, EIG did not reach profitability. It achieved audited turnover of #9,098,845 in the year to 31 December 2005 and a loss after tax and finance costs of #2,762,953. Contracted maintenance revenue in 2005 was above #900,000. Losses increased in 2006 and the company was placed into administration on 24 November, 2006. eServGlobal has paid #500,000 for the assets of EIG. These assets include intellectual property, source code, computer equipment, customer contracts and approximately #300,000 of current receivables. eServGlobal's Executive Chairman and CEO, Mr Ian Buddery, said, "Empower has a product suite which is complementary to eServGlobal's messaging offering and we share many important customers. However, they employed over 120 staff in the UK, a cost base inappropriate for the scale of their revenue. We expect to employ a small number of the former engineering staff but otherwise absorb the sales, product development and customer support activities into our existing organisation. We intend to further develop the products and support the customers. We expect that the cost of the acquisition to be fully recovered within one year and that the products and services acquired will produce ongoing profit and positive cashflow." About eServGlobal eServGlobal (LSE: ESG & ASX: ESV) solutions enables Service Providers to maximize today's proven revenue streams whilst ensuring service continuity and new revenue opportunities when evolving to next generation networks. Over 75 of the world's leading telco's are taking advantage of eServGlobal's advanced solutions and expertise to successfully address their business challenges and to manage over 120 million mobile subscribers. As a global solutions provider, eServGlobal helps Carriers and Service Providers by providing turnkey solutions and enabling Multimedia Intelligent Services built on a network-independent, open and real-time architecture. All products are designed for fixed, mobile and NGN/IMS infrastructure: ChargingMax (Prepay to Convergent Charging), Top UP Suite (Voucher to E-Retailer Management), M@ilis (SMS Call Notify to Voice&Video Mail), MessageMax (from SMS Direct Routing to SMS Anti-Fraud), Mobility Suite (Location-based & Presence Services) and INMax (VPN, Number Portability, Service Numbers, etc). More information can be found at: www.eservglobal.com Ian Buddery Executive Chairman eServGlobal Limited This information is provided by RNS The company news service from the London Stock Exchange END ACQTJMTTMMITBAR
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