eServGlobal Limited eServGlobal receives A$11.4M escrow payment (7357J)
10 Agosto 2012 - 8:00AM
UK Regulatory
TIDMESG
RNS Number : 7357J
eServGlobal Limited
10 August 2012
eServGlobal Limited (eServGlobal or the "Company")
Receipt of Escrow Funds from Oracle
Paris: 10 August 2012
eServGlobal Limited (ASX:ESV, AIM:ESG) is pleased to announce
that it has received the final escrow amount of AUD $11.4 million
relating to the sale of its USP business to Oracle in 2010.
In 2010 eServGlobal sold its USP business and assets to Oracle
for AUD$106.7 million prior to purchase price adjustments of
AUD$3.6 million. The Company received an initial payment of
AUD$79.4 million with the balance held in escrow and to be released
in two installments, both of which have been received by
eServGlobal. Oracle and eServGlobal continue to work together as
partners in the mobile market.
The receipt of the escrow marks another step in the achievement
of eServGlobal's strategic objectives, and enables the Company to
focus on growing its mobile money and value-added services
business, adding five new customers to the core business during the
financial year to date. Based on these new customer wins, revenue
is anticipated to grow in the second half of the financial
year.
About eServGlobal
eServGlobal specializes in Mobile Money solutions and
Value-Added Services (VAS), to help Mobile Service Providers
increase their revenue and gain and maintain customer ownership.
eServGlobal invests heavily in product development, using
carrier-grade, next-generation technology and aligning with the
requirements of more than 80 customers in over 55 countries.
For more than 25 years mobile and financial service providers
have used eServGlobal solutions to lead and innovate in their local
markets, leveraging their core assets and their trusted agent and
subscriber relationships.
With 13 offices globally, eServGlobal provides full "end-to-end"
and "any account to any account" Mobile Money Services and
International Remittance Services. In strategic partnership with
BICS, the HomeSend solution is the only mobile-centric
international remittance hub to gain endorsement from the GSM
Association.
eServGlobal's Value-Added Services in promotions, loyalty and
messaging enable service providers to engage with their subscribers
in a personalized and dynamic manner.
To reduce time-to market and to meet the needs of operators and
banks, eServGlobal provides multiple licensing alternatives as well
as SaaS-based products and services.
eServGlobal is listed on the Australian Securities Exchange
(ESV) and the London Stock Exchange AIM (ESG). More information at:
www.eservglobal.com
For further information, please contact:
eServGlobal www.eservglobal.com
Tom Rowe, Company Secretary T: +61 (0)7 3302 0194
Christina Tubb, Head of Investor Relations
investors@eservglobal.com
Cenkos Securities plc www.cenkos.com
Ivonne Cantu/Stephen Keys (Nomad) T: +44 (0) 20 7397 8980
Newgate Threadneedle Communications www.newgatethreadneedle.com
Caroline Evans--Jones/Josh Royston/Hilary T: +44 (0) 20 7653 9850
Millar
Charles Stanley Securities www.csysecurities.com
Dugald Carlean/Paul Brotherhood T: +44 (0) 20 7149 6000
This information is provided by RNS
The company news service from the London Stock Exchange
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