Business
Acquisition & Alliance
Acquisition & Alliance.
About this update from Xps Pensions Group Plc
[{"type":"text","content":"\n eXpansys Plc\n30 July 2007\n\n ACQUISITION OF YOONOO LIMITED\n and\n STRATEGIC ALLIANCE WITH TRUPHONE\n\n\nAcquisition of YooNoo Limited\n\neXpansys plc ('eXpansys' or the 'Group') is pleased to announce that it has\nacquired YooNoo Limited ('YooNoo'), the owners of\nwww.globalpositioningsystems.co.uk, www.shiroi.co.uk and www.goaudio.co.uk, for\nan initial cash consideration of £0.2 million. Deferred consideration of up to\n£0.9 million will be payable, depending on the performance of YooNoo in the 12\nmonths following completion. Of this deferred consideration, 50% must be paid in\ncash with the remaining 50% being payable in either cash or eXpansys shares at\nthe discretion of the eXpansys Board. The total consideration payable for YooNoo\nwill not exceed £1.2 million. On completion, YooNoo had net cash of £0.3 million\nand stock of £0.4 million.\n\nYooNoo, through its website www.globalpositioningsystems.co.uk, is the market\nleading online retailer of satellite navigation systems in the UK. The directors\nof eXpansys believe that YooNoo will fit neatly into the eXpansys group and that\nsignificant cost savings will be achievable through economies of scale,\nparticularly in warehousing, financing and IT.\n\nRoger Butterworth, CEO of eXpansys, said: 'YooNoo owns three significant web\nbrands with a reputation for providing good customer service and having real\nproduct knowledge. So, I am delighted to announce the purchase of this business\nwhich adds depth to the eXpansys group of companies.\n\n'I believe that, following flotation, eXpansys is well positioned to develop\nthese brands and deliver further growth.'\n\n\nTruphone Strategic Alliance\n\nThe Board of eXpansys also announces that the Company has entered a strategic\nalliance with Truphone to provide a co-branded mobile VOIP service to users of\ndual mode WiFi / GSM handsets. The service will be offered to eXpanys' one\nmillion plus customers, as a low cost alternative to traditional pre-pay mobile\nservices.\n\nRoger Butterworth said: 'Research indicates that around 60% of mobile phone\ncalls are made from the home or office and this service will operate when a user\nis in a WiFi hotspot or connected to their WiFi network at home or in the\noffice. Also, international calls from our service will be 70-80% cheaper than\ncalls made over legacy mobile networks....