(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:
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Boku Inc - mobile payment and identity company based in California, US - Launches its Verify and Authenticate solutions in Germany. Says both solutions are integrated with O2, Telekom Deutschland, and Vodafone service providers. Expands total global coverage for its verification and authentication services, which have launched in 20 countries. Says it final earn-out payment, related to the acquisition of Fortumo Holdings Inc, totals USD2.2 million. This payment is based on Fortumo's earnings before interest, tax, depreciation and amortisation performance in the year ended June 30, the company notes. Receives USD3.2 million balance in escrow for Fortumo acquisition last Friday. Boku acquired Fortumo and its subsidiaries on July 1, 2020.
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Focusrite PLC - High Wycombe, Buckinghamshire-based music and audio products company - Provides a trading update that indicates positive trading in its current financial year. Says revenue, profit, and cash flow have increased significantly in the year ended August 31. Expects revenue to total around GBP173 million in financial 2021, up from GBP130 million a year prior. Says improved performance is primarily due to strong customer demand and includes four-months of contribution from Sequential LLC, which the company acquired in April. Notes net cash balance of around GBP17 million on August 31 and says cash generation remains a priority.
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Sumo Group PLC - Sheffield, England-based video games company - Acquires Bristol-based video game developer and publisher Auroch Digital for a GBP6.0 million cash consideration. Plans to pay further deferred consideration, continent on Auroch's performance in the financial year due to end on March 31, 2024. Says the acquisition enhances its publishing capability. Notes Auroch's pipeline of original intellectual property and track record for developing innovative, high-quality games. This follows the launch of the company's publishing division, Secret Mode, in March. Sumo Group's chief executive Carl Cavers says that: "While this is a relatively small acquisition, it is a highly significant one for us strategically."
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Mercia Asset Management PLC - West Midlands-based asset manager - Says its fund management operations continue to perform well. assets under management total GBP940 million. Non-executive chair Ian Metcalfe says the company's "Group-wide strong liquidity position is enabling us to deploy capital into new and existing attractive investment opportunities, both through our managed funds and balance sheet. We have a differentiated business model which is now delivering incremental shareholder value and we are increasingly optimistic about our future."
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N4 Pharma PLC - Derbyshire-based pharmaceutical company developing Nuvec for cancer treatments and vaccines - Says initial testing of SARS-COV-2 plasmid and Nuvec cancer treatment show improved response in terms of transfection. Adds that the combination of these treatments showed a dose-related SARS-COV-2 Spike protein production. The company says: "These in vitro results provide a positive platform for the commencement of the in vivo work beginning this month which is expected to last six to eight weeks with an additional two to three weeks for analysis."
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Silver Bullet Data Services Group PLC - marketing consulting company based in London - Wins new contract to design and deploy a data strategy for Irish broadcasting company RTE. Plans to "optimise" RTE's business infrastructure to speed up its digital transformation. Says the contract will draw on Silver Bullet's experience assisting broadcasters to move towards digital advertising spending and away from linear TV advertising. Chief executive of Silver Bullet, Ian James, says: "We are delighted to be at the centre of the broadcaster and audio data-driven transformation industry...We look forward to seeing the results of this years' work as the digital video and audio market looks set to bounce back in 2022."
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IronRidge Resources Ltd - minerals exploration company with projects in Chad, Ghana and the Ivory Coast - Reports final high-grade lithium drill intersections at new targets adjacent to the Ewoyaa Lithium Project in Ghana. Notes highest metal content intersection discovered to date, specifically 53 metres at 1.3% lithium oxide from an 80 metre deep GRC0392 hole. Chief Executive Vincent Mascolo says: "The resource expansion drilling programme has now been completed and we will maintain momentum with five drill rigs currently active on site for the resource infill programme. The board remains confident the additional exploration targets will increase resource scale and improve project economics, where we have defined Ghana's first lithium JORC compliant resource of 14.5 [million tonnes] at [1.3% lithium oxide]."
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By Scarlett Butler; scarlettbutler@alliancenews.com
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