New Order AgreementsJune 30, 2010
FOR IMMEDIATE RELEASE
30 JUNE 2010
NEW CITRONGO! AGREEMENTS WITH MNOs IN SE AND WEST EUROPE
Globo plc (“Globo” or “the Group”; LSE-AIM: GBO), the international IT, mobile solutions and S.a.a.S group, is delighted to announce the continuing development of its international mobile business with a new order and a letter of intent signed for CitronGO! with Mobile Network Operators (“MNO”) in West and South East Europe.
The first contract is for the provision of the CitronGO! messaging and social networking service to an MNO in South East Europe. This is the second contract won in the region and the service is expected to be commercially available early in July.
The letter of intent, also covering the provision of the CitronGO! messaging and social networking service, has been signed with an MNO operating in 5 countries in Western Europe with a total of 29 million subscribers. The service is expected to be commercially available in all 5 countries in the beginning of the 4th quarter of 2010.
It is intended that both Operators will receive the CitronGO! service as an SaaS offering under which Globo will receive a fixed service fee per month per active user of the service.
These positive developments follow the contracts for CitronGO! with MNOs in South East Asia and South East Europe, together with a contract for a large SMS campaign in Africa announced previously.
In support of its international expansion plans, the Group is continuing to recruit internationally experienced professionals in the mobile sector, who are working with regional teams to develop relationships with MNOs in Latin America, North America, South East Europe, the Middle East, India, China and South East Asia. In addition, in March 2010 the Group established a regional office in Singapore to monitor and expand the Group’s operations in the South East Asia region, focusing on the development of CitronGO! and other mobile services.
Costis Papadimitrakopoulos, CEO, commented:
“The success we have achieved so far in our strategy of expanding into the international mobile market demonstrates the exciting potential of CitronGO!.
“Our focus on establishing relationships with MNOs wishing to enrich their offerings with CitronGO!, is positioning Globo strongly around the world, whilst generating new recurring revenues for the Company and driving our growth over the next few years.”
Costis Papadimitrakopoulos, CEO
Dimitris Gryparis, Finance Director
NCB Stockbrokers Limited (Nomad)
Christopher Caldwell or Barclay Clibborn
Astaire Securities Plc (Joint Broker)
Daniel Stewart & Company Plc (Joint Broker)
Simon Bloomfield or Andy Harris