Announcement: Acquisition of US Carrier Billing Service BilltoMobile

  • App stores and operators gain Bango Boost technology to accelerate End User Spend growth in US
  •  Acquisition adds $80m (£55m) annual US-based End User Spend to the Bango Payment Platform

Bango announces that it has acquired BilltoMobile, the US-based carrier billing services of Danal Inc. for an initial consideration of $3.5m (£2.4m), comprising $3m (£2.15m) in cash, to be paid immediately, and $500,000 (£345,000) in Bango shares at an issue price of 60 pence. Deferred consideration, which is expected to be $35,000 (£25,000), may become payable in cash in Q1 2017 depending on the performance of one revenue stream. In addition, Bango will pay certain fees in connection with the acquisition which are expected to be $215,000 (£150,000) and relate to the migration of services from Danal. BilltoMobile services processed approximately $80m (£55m) of End User Spend (EUS) in 2015, making it the largest carrier billed payments processor in the US by volume.

Read full announcement here

 

This entry was posted in Announcements. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s