22nd Nov 2019 11:25
(Alliance News) - Mobile commerce platform Bango PLC on Friday said it will take sole ownership of Audiens SRL, after the subsidiary met its earnings targets two months ahead of expectations.
The success, which Bango says was driven by the unit securing sales wins with clients including Dutch bank ING Group NV, means the London-listed firm will pay a deferred consideration of GBP990,000.
In January 2018, it forked out an initial GBP1.3 million in cash to acquire a 98% holding in the data management firm. The remaining stake was held by Marko Maras, the Audiens co-founder and chief executive.
Bango said: "Audiens met the ambitious financial targets early by building on its commercial success in Italy, winning new customers, leveraging Bango global presence and expertise, developing its product and providing excellent customer service."
Bango shares were 2.4% higher at 130.54 pence each in London on Friday morning.
By Eric Cunha; [email protected]
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