17th Apr 2020 15:20
(Alliance News) - Bango PLC on Friday said it has expanded its partnership with NHN Corp, a South Korean data and technology company.
The stock was trading unchanged in London on Friday at 119.50 pence a share.
NHN has invested GBP3.2 million into Bango for a 4.7% shareholding. It has invested a further GBP6.5 million for a 60% shareholding in Bango Deep - the Bango subsidiary that owns the Audiens customer data platform business - with Bango retaining 40%.
By taking a stake in Bango, NHN will benefit from the rapid growth in global mobile commerce, building on the initial data-monetisation relationship, Bango said.
"This closer linkage with NHN enables Bango to capitalize on emerging technological and consumer trends and apply more primary research to the continuous development of our payments and data monetization products," explained Bango Chief Executive Paul Larbey.
By Evelina Grecenko; [email protected]
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