9th May 2018 12:24
LONDON (Alliance News) - Vipera PLC said Wednesday its 2017 revenue rose by 27% driven by the acquisition of SoftTelecom in Spain which "grew rapidly" after the purchase.
The mobile financial software provider's pretax loss narrowed to EUR900,458 in 2017 from EUR1.5 million the prior year, while revenue was up to EUR10.1 million from EUR7.9 million.
Vipera said it started 2018 with a significant backlog of business from a wide range of customers and "looks to further substantial progress in the year".
Chief Executive Marco Casartelli said: "We took a number of significant steps forward in 2017 with continued growth, significantly reduced losses and evolving our relationship with Banca Sella.
"Subsequent to the year end it was announced on 18 April 2018 that Sella Open Fintech Platform SPA, a Banca Sella subsidiary, has made a recommended cash offer for the company."
Vipera's board has unanimously recommended the offer from the Banca Sella subsidiary. The offer was 7.50 pence per Vipera share, valuing the firm at GBP24.0 million.
Vipera shares were untraded today and closed at 7.25p on Tuesday.
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