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Zamano still on hunt for deals despite approach

Published: 02:43 06 Aug 2015 EDT

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Zamano has partnership arrangements with Three Ireland and Vodafone,

Bid target Zamano (LON:ZMNO) is still looking at possible acquisitions of its own, it told shareholders ahead of the annual meeting.

The Ireland-based mobile payments and marketing specialist announced last week it had received an early stage and conditional offer worth €0.20 per share.

In the statement today it added it is still looking for acquisitions that meet its investment criteria in terms of value and potential. It is also altering its customer acquisition model, which when completed, will result in greater in-house capabilities and market flexibility. 

Zamano has partnership arrangements with Three Ireland and Vodafone, which combined account for about 80% of the Irish mobile phone market.

In 2014, Zamano increased sales by 24% to €19.8mln and pre-tax profit by 14% to €2.2mln.

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