New business wins demonstrate continuing success iApril 18, 2011
FOR IMMEDIATE RELEASE
18 April 2011
New business wins demonstrate continuing success in all areas
Globo plc (“Globo” or “the Group”; LSE-AIM: GBO), the international IT, mobile solutions and S.a.a.S group, is pleased to announce that it has won a number of additional new contracts and orders, across all areas of the Group, which should make a significant contribution to revenues in 2011.
Mobile Applications and Services
We have recently won a contract and an order, both for CitronGO!, with Mobile Network Operators (“MNO”) in the Middle East.
The contract is with one of the leading MNO’s in the Middle East, with 15.5 million subscribers, with the service expected to go live by June 2011.
The order is with a MNO in Middle East with 2.5 million subscribers and is expected to go live by July 2011.
The service to both MNOs in the Middle East is based on the CitronGO! S.a.a.S offering, for which Globo will receive a fixed service fee per month per active user.
In addition, we have recently signed 6 master distribution agreements with resellers in Africa, Middle East, India, SE Asia, Europe and Latin America. These agreements will provide Globo with local reach to numerous MNOs, thereby increasing our international customer base.
WiFi Broadband Networks
We have recently signed our first international WiPLUS franchising agreement with a telecom operator in SE Europe
In addition, we have won 31 new contracts for WiPLUS WiFi offering with large hotels, which are now being deployed throughout Greece.
The WiPLUS WiFi Service is based on a fully managed service provided by Globo to locations, such as hotels, airports and marinas, with a revenue sharing agreement based on revenues generated from internet usage by visitors.
The WiPLUS Franchising agreement is based on revenue sharing but with Globo receiving a smaller share as the result of offering the software technology platform only with installation and operating costs being the responsibility of franchisees.
E-Business Software and SaaS
Since the beginning of the year, we have won a number of contracts and orders from private sector customers, including banks and large corporates as well as European Commission co-funded projects, for our e-business products and services.
The aggregate value of these new business wins is €8.75 million which we anticipate will be invoiced within 2011.
Costis Papadimitrakopoulos, CEO, commented:
“These latest contract wins validate our successful commercial and technological offering and constitute a further step in our international expansion in all fronts of our business.
“We continue to be excited about the opportunities that are resulting from the investment we have made in our products and business development which will support further growth across the business.”
Costis Papadimitrakopoulos, CEO
Dimitris Gryparis, Finance Director
Daniel Stewart & Company Plc (Nomad & Broker)
Noelle Greenaway (Corporate Finance)
Christopher Theis (Corporate Broking)