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Bango acquires BilltoMobile

By BFN News | 07:38 AM | Monday 09 May, 2016


Bango has acquired BilltoMobile, the US-based carrier billing services of Danal Inc. for an initial consideration of $3.5m, comprising $3m in cash, to be paid immediately, and $500,000 in Bango shares at an issue price of 60 pence. Deferred consideration, which is expected to be $35,000, may become payable in cash in Q1 2017 depending on the performance of one revenue stream. In addition, Bango will pay certain fees in connection with the acquisition which are expected to be $215,000 and relate to the migration of services from Danal. BilltoMobile services processed approximately $80m of End User Spend (EUS) in 2015, making it the largest carrier billed payments processor in the US by volume. Story provided by StockMarketWire.com

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