Zamano, the mobile technology company based in Dublin has just issued an Interim Management Statement which mentions that the company is considering a series of acquisitions this year to grow its business.
Zamano provides mobile advertising options as well as messaging and payment tools for mobile providers.
Zamano announces updates
In addition, the company has begun the search for a new Chief Executive after Ross Conlon announced his departure last month to join Independent News and Media (INM).
Meanwhile, tech entrepreneur Edmond Murphy has been appointed to the board.
Colin Tucker, Chairman, Zamano, said:
“We are delighted to welcome Eddie to the Board of Zamano. His extensive experience in payments, social media and advertising will be of considerable benefit to Zamano as we actively pursue the re-positioning of the business”.
Zamano was close to acquisition itself last year. However, a previous offer feel through.
Since then, the company has been busy adding value and turning toward “growth-orientated activities”.
The interim review finds that “this can be most effectively achieved by implementing a focused bolt-on acquisition program in the mobile advertising, social and billing areas. The strategic review identified a small number of potential acquisitions in these three sectors which Zamano is currently evaluating.”
The firm continues to evaluate potential prospects.
Zamano also found that business had been boosted by strong sales growth last year that continued into the first half of 2016. However, advertising spending was putting a damper on contribution margins.