Irish-based mobile phone data services provider, Zamano, has completed the acquisition of Eirborne Text Promotions for an initial €1.7m consisting of a cash payment of €1.2m and the issue of shares.
Additional deferred consideration will be paid, based on future profits. The total consideration for the purposes of the AIM rules has been capped at €8.5m.
Eirborne's audited accounts to 31 December 2006 recorded an adjusted EBITDA of €0.5m on turnover of €2.87 million.
Zamano floated on Dublin's IEX and London's Alternative Investment Market (Aim) last October.
Zamano sells services like video and SMS chat to mobile phone operators and networks.
