Zamano, a Dublin-listed provider of interactive applications and services to mobile devices, has said talks over a possible takeover of the company have collapsed.
The group announced in early August that it had received a bid for the company at an offer price of €0.20 per share. However, in a statement on Friday the group said it was no longer in talks about a possible takeover.
It is believed that Zamano was unable to agree on terms with the potential purchaser.
The Irish Times understands the company has received a number of informal approaches, which it is considering.
Zamano said in a statement it would continue to seek investment, acquisition and joint venture opportunities to enable it to grow and diversify its business.
The group, which has been gradually altering its customer acquisition mode in recent years, saw sales rise by 19.3 per cent in the first six months of its financial year on the back of strong third party (B2B) sales performance in the UK.
Zamano said last month that first-half sales rose by 19.3 per cent to € 10.4 million in the six months to June 30th, as profits before tax advanced by 18.9 per cent to € 1.2 million.
The group, which agreed a deal with Three in April to allow the company’s technology to be used as a conduit by e-commerce providers to bill the operator’s customers via their mobile phone bill, saw Irish sales decline by 5.2 per cent in the first half to € 1.7million.
