NEW YORK & ATHENS, Greece -- (BUSINESS WIRE) -- Globo plc (LSE-AIM: GBO), the international leader and technology innovator delivering enterprise mobility management and telecom software products and solutions, has acquired the business and assets of Notify Technologies Inc. ("Notify"), a mobile technology company specialising in wireless mobility solutions and services, for a cash consideration of US$5 million. Under an Asset Purchase Agreement, assets of US$0.35 million and liabilities of US$3.1 million, including US$2 million of deferred revenues, and approximately 60 employees will transfer to Globo's US subsidiary.
Notify enables organisations to define, simplify and implement their mobility strategies, including the management of mobile devices. Founded in 1994, Notify is located in San Jose, California, where all sales, marketing and finance personnel are located. Notify's product development and technical support centre is located in Canfield, Ohio. Notify offers businesses mobility solutions for addressing the Bring Your Own Device ("BYOD") trend, enterprise mobility management, data loss prevention, and BlackBerry device management.
Its products provide the management, control and oversight needed to maintain a secure and productive mobile environment for businesses of any size, and have been recognised by Gartner's Magic Quadrant for Wireless Email for the past 6 years.
Notify’s products include:
Notify currently has approximately 1,800 customers in the financial services, government, healthcare, higher education, primary and secondary education and manufacturing sectors. Named customers include Oracle Corporation, Novell Inc., Securitas, True Value Company, Trinity Health, and The U.S. Equal Employment Opportunity Commission (EEOC). Additionally, Notify's worldwide network of 26 partners includes carriers, distributors, resellers, systems integrators and complementary technology companies including well known firms such as Synnex and ConnecTel.
For 2012, Notify's unaudited IFRS revenue and EBITDA were US$6.1 million and US$1.6 million, respectively. The acquisition of Notify will immediately be EBITDA enhancing and is expected to be earnings enhancing in its first full year.
The acquisition of Notify represents another significant step towards Globo's strategic goal to become a global leader in the field of enterprise and consumer mobility. Specifically:
During CTIA MobileCON later this month in San Jose, Globo will launch its GO!Enterprise V.2 which incorporates Notify's MDM functionality.
Going forward, Globo's management remains focused on its strategic goal to become a global leader in the field of enterprise and consumer mobility, and its near-term objectives are to:
Costis Papadimitrakopoulos, Chief Executive Officer commented:
"The acquisition of Notify significantly strengthens Globo's competitive position to address the BYOD trend and accelerate growth in the US and elsewhere, as well as adding to our rapidly growing customer and revenue base.
"In addition to MDM functionality, thereby opening up significant new business opportunities for GO!Enterprise during the industry's transition to containerisation, Notify brings highly skilled and experienced people, our most valuable asset.
"With current trading strong and organic growth underpinning our expansion, we are confident and excited about our future success."
A call will be held for analysts and investors on Friday 4 October 2013 at 1600 hrs BST / 1100 hrs EDT / 0800 hrs PDT. To register your interest in joining the call, contact firstname.lastname@example.org.