23rd Dec 2016 08:43
LONDON (Alliance News) - Telecommunications software firm Artilium PLC on Friday said it has, through its United Telecom unit, acquired Belgium's ELLO BVBA.
ELLO is a mobile virtual network operator in Belgium which donates all profit to social causes and charities. In 2015, it made revenue of EUR698,222 and earnings before interest, tax, depreciation and amortisation of EUR181,670.
Artilium will acquire the firm for EUR300,000, which will be satisfied entirely by the issue of 3.8 million Artilium shares at 6.60 pence a share.
"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," said Artilium Chief Executive Bart Weijermars.
Artilium shares were untraded on Friday, having last traded at 7.00p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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