IMO.L Regulatory News (IMO)

27 August 2019

IMImobile PLC

("IMImobile", the "Group")

Completion of Acquisition of 3CInteractive Corp

IMImobile (AIM: IMO), a global cloud communications software and solutions provider, is pleased to confirm that it has completed the Tender Offer for the acquisition of 3CInteractive Corp, details of which were announced on 24 July 2019.

As of the expiration of the Tender Offer on Friday, August 23, 2019, a total of approximately 99.5% of the shares in 3C were validly tendered and accepted by IMImobile for payment in accordance with the terms of the Tender Offer.

As previously announced, $10m (£8.1m) of the Total Consideration of $53.2m (£43.3m) will be deferred for up to two years ("Deferred Consideration"). Selling shareholders representing in aggregate approximately 24.5% of the shares in 3C who were unable to demonstrate accredited investor status will, pursuant to the terms of the Merger Agreement, receive Deferred Consideration in cash instead of Consideration Shares. The balance of the Deferred Consideration will be satisfied through the issue of up to 1,937,146 Consideration Shares.

The Acquisition will be completed through a second-step merger which will result in each remaining share in 3C not purchased in the Tender Offer being converted into the right to receive the consideration provided in the Merger Agreement. Upon completion of the merger, expected to complete within two business days, 3C will become a wholly-owned subsidiary of IMImobile.

Jay Patel, CEO of IMImobile, commented: "We are pleased to complete the Acquisition which brings complementary product capabilities and a blue-chip customer base with significant opportunities to cross and upsell IMImobile's enterprise CPaaS product set. We welcome 3CInteractive to IMImobile and are excited by the opportunities provided as a combined Group".

Defined terms in this announcement shall have the same meaning as those set out in the Company's announcement of 24 July 2019.

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About IMImobile PLC

IMImobile is a communications software provider whose solutions enable enterprises to automate digital customer communications and interactions to improve customer experience and reduce operating costs.

IMImobile's enterprise cloud communications software platform orchestrates customer interactions, connecting existing business systems with digital communications channels. Organisations that trust us to deliver smarter digital customer engagement include Hermes, Centrica, AA, O2, EE, BT, Foxtons, Pizza Hut, Vodafone, MTN, three of the major retail banks in the UK and public-sector organisations globally.

IMImobile is headquartered in London with offices across the UK, Hyderabad, Toronto, Little Rock, Dubai and Johannesburg and has over 1,100 employees worldwide. IMImobile is quoted on the London Stock Exchange's AIM market with the TIDM code IMO.