Zamano eyeing up acquisitions following strong year

Dublin-based mobile technology firm, Zamano has said it is looking for acquisition opportunities less than a year after almost being bought out itself.

The company — which provides messaging, advertising and payments support tools to mobile communications providers — yesterday reported strong growth for 2015, with revenues up 22.3% to €24.3m, pre-tax profits ahead by 13% to €2.4m and net cash up from €4.6m to €6.3m.

Post-tax profits were up by 13% to €2.1m, with EBITDA of €3m representing growth of 9.5%.

Seven months ago, Zamano received an unsolicited approach which was expected to lead to the purchase of the company but, despite due diligence having been carried out, ultimately didn’t get beyond the indicative offer phase.

“In 2016, Zamano will continue to focus on its core activities whilst exploring acquisition or partnership opportunities with a view to diversifying and improving its product footprint,” said chairman John Rockett.

Chief executive, Ross Conlon, added: “During 2015, the group examined a number of opportunities in mobile media, payments and messaging... it remains an ongoing objective of the group to find acquisition or partnership opportunities for the business in the web and mobile marketing space.”