eXpansys Plc
30 July 2007
ACQUISITION OF YOONOO LIMITED
and
STRATEGIC ALLIANCE WITH TRUPHONE
Acquisition of YooNoo Limited
eXpansys plc ('eXpansys' or the 'Group') is pleased to announce that it has
acquired YooNoo Limited ('YooNoo'), the owners of
www.globalpositioningsystems.co.uk, www.shiroi.co.uk and www.goaudio.co.uk, for
an initial cash consideration of £0.2 million. Deferred consideration of up to
£0.9 million will be payable, depending on the performance of YooNoo in the 12
months following completion. Of this deferred consideration, 50% must be paid in
cash with the remaining 50% being payable in either cash or eXpansys shares at
the discretion of the eXpansys Board. The total consideration payable for YooNoo
will not exceed £1.2 million. On completion, YooNoo had net cash of £0.3 million
and stock of £0.4 million.
YooNoo, through its website www.globalpositioningsystems.co.uk, is the market
leading online retailer of satellite navigation systems in the UK. The directors
of eXpansys believe that YooNoo will fit neatly into the eXpansys group and that
significant cost savings will be achievable through economies of scale,
particularly in warehousing, financing and IT.
Roger Butterworth, CEO of eXpansys, said: 'YooNoo owns three significant web
brands with a reputation for providing good customer service and having real
product knowledge. So, I am delighted to announce the purchase of this business
which adds depth to the eXpansys group of companies.
'I believe that, following flotation, eXpansys is well positioned to develop
these brands and deliver further growth.'
Truphone Strategic Alliance
The Board of eXpansys also announces that the Company has entered a strategic
alliance with Truphone to provide a co-branded mobile VOIP service to users of
dual mode WiFi / GSM handsets. The service will be offered to eXpanys' one
million plus customers, as a low cost alternative to traditional pre-pay mobile
services.
Roger Butterworth said: 'Research indicates that around 60% of mobile phone
calls are made from the home or office and this service will operate when a user
is in a WiFi hotspot or connected to their WiFi network at home or in the
office. Also, international calls from our service will be 70-80% cheaper than
calls made over legacy mobile networks.'
For further information, please contact:
eXpansys plc Tel: +44 (0) 161 232 3410
Roger Butterworth, CEO roger@expansys.com
Investor relations website www.expansys.com/investor.aspx
Rawlings Financial PR Limited Tel: +44 (0) 1756 770 376
Catriona Valentine catriona@rawlingsfinancial.co.uk
About eXpansys
The Group specialises in the sale of handheld electronic devices with wireless
connectivity and boasts a wide offering ranging from smartphones and ultra
mobile personal computers, to cameras and GPS equipment. Under the umbrella of
www.expansys.com, www.nomatica.com, www.portix.com and www.mobileplanet.com,
eXpansys operates some 50 websites in 12 different languages that cater to the
major economies of the world and serve both retail customers and blue-chip
corporate accounts including Microsoft, Oracle, The Metropolitan Police and Dell
Computer.
Based in Manchester, eXpansys has grown both organically and through acquisition
and has a global infrastructure that allows it to service its international
customer base through a network of warehouses in the UK, France, USA, Hong Kong
and Australia.
This information is provided by RNS
The company news service from the London Stock Exchange
AFID