Zamano still looking for a potential takeover

6th Aug 2015 14:51

(ShareCast News) - Mobile devices applications provider Zamano said it continued to seek acquisitions which would meet its investment criteria.The group said in a short update ahead of its annual shareholder meeting that, following a good performance in 2014 thanks to a discipline on costs, it has been gradually altering its customer acquisition model, which is expected to results in greater in-house capabilities and market flexibility.At the time of its full-year results, Zamano posted earnings, revenues and cash generation growth from operations.Now, the company is still looking for an acquisition which will meet its investment criteria in terms of value and potential.On Monday, Zamano announced it received a preliminary and "highly conditional" approach regarding a possible offer for the company for €0.20 per ordinary share, but recommended shareholders to take no action for the time being.Meanwhile, it has continued to develop its carrier billing capabilities by deploying connections to the Irish Mobile Operators.