Last checked at 24 Jul 2012 10:55
For release on 24 July 2012,
VIPERA PLC
("VIPERA" or "THE COMPANY")
Withdrawal from merger
On June 8, 2012 it was announced that Vipera had agreed non-binding terms for a significant transaction with a company whose business is complementary to that of Vipera's (the "Transaction").
Since that date, the senior management of each company have sought to progress the transaction to a binding sale and purchase contract, but both parties have now concluded that their company's strategic objectives are not best served by completing the Transaction on the terms available.
The board of Vipera is now looking to re-appraise the commercial opportunities and the strategy to optimise its route forward. It will also look to now progress the publication of its Report and Accounts for the year ended 31 December 2011 in a timely manner.
-Ends-
Vipera PLC | |
Marco Casartelli | Tel: +39 02 7214 2424 |
Martin Perrin | Tel: +44 (0) 7785 505 337 |
Beaumont Cornish Limited (Nomad) | Tel: +44 (0) 20 7628 3396 |
Roland Cornish | |
Felicity Geidt | |
Notes to Editors
Vipera is an international mobile commerce provider with a focus on the Middle Eastern market, where it has established itself as the preferred partner of national banks and global technology businesses.
Vipera provides software and services to banks and financial institutions to enable mobile access to personal financial services. Additionally Vipera's software enables Government and corporate entities to allow their services and consumer transactions to take place on mobile platforms.
Vipera is ideally placed to leverage its significant success to date and seize further share of this market, buoyed by the growth of smart phones, forecast by 2013 to grow to 977 million users and in revenue from $71bn to $862 billion.
Vipera's headquarters are in Milan and it listed on the London Stock Exchange (AIM: VIP.L). For further information, please visit www.vipera.com