Artilium PLC Acquisition (2927S)
06 July 2015 - 11:56PM
UK Regulatory
TIDMARTA
RNS Number : 2927S
Artilium PLC
06 July 2015
Artilium plc
("Artilium" or the "Company")
Artilium buys the *bliep mobile brand and customers and
significantly expands its customer base and revenues in the
Netherlands
Artilium plc (LSE/AIM: ARTA), the AIM quoted provider of
innovative telecommunication software and solutions, is pleased to
announce the acquisition of all the assets of *bliep
(www.bliep.nl), through its subsidiary United Telecom NV ("United
Telecom"). Total consideration for the assets is EUR190,000, which
is being satisfied through a cash payment of EUR140,000, and the
balance of EUR50,000 is being satisfied by the issue of 585,000 new
ordinary shares to the vendors, at a price of 6.1 pence per share
(the "Consideration Shares") (together the "Transaction"). The cash
payment for *bliep will be funded out of the Company's existing
cash resources.
The Company also intends shortly to issue a convertible loan
note for a cash amount of EUR200,000, to an existing shareholder,
repayable in full in January 2016 at a rate of eight per cent, or
convertible to new ordinary shares in the Company.
*bliep is a virtual mobile network operator offering daily
flexible subscriptions focussed on the younger generation of mobile
users in the Netherlands. These daily bundles are simple and
flexible and can be switched on a daily basis, offering tariffs
from 0 to EUR0.5 per day.
*bliep is generating annual revenues of approximately EUR1.2
million.
Bart Weijermars, Chief Executive Officer of Artilium said:
"With the acquisition of *bliep and its customer base we are
adding a very exciting brand to our business and are expanding our
mobile retail offering internationally. Being involved in the
conception of the *bliep brand in the early days, I strongly
believe that young people are key in building the *bliep community
and therefore they determine the products and activities of *bliep.
I look forward to building a new team of young people that will
reposition the *bliep brand. Operationally and technically we are
ready to support the team with our products and services."
In addition to brand and customers, Artilium will also acquire
the technology that offers the simple and flexible customer
interaction software linked to the Artilium enabling platform which
will provide Artilium with the opportunity to provide a more
comprehensive offering to other customers of its platform as
well.
*bliep works on the Tele2 network in the Netherlands and has
approximately 21,000 customers. As part of the Transaction, the
Company has agreed to settle certain unpaid invoices by *bliep due
to Tele2 in relation to network usage over the three months prior
to the Transaction, which will be payable during 2016 and 2017 and
which amounts to a total liability of c.EUR205,000.
Application has been made for the 585,000 new ordinary shares in
the Company to be admitted to trading on AIM and admission is
expected to take place on 10 July 2015. 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 237,329,840 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 +32 (0)50230300
Bart Weijermars - Chief Executive
Officer
finnCap Ltd
Stuart Andrews & Scott Mathieson
(corporate finance)
Joanna Weaving (corporate broking) +44 20 7220 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
END
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