Globo plc (GBO.L) said it has acquired Dialect Technologies Inc, a New York-based specialist provider of IP telecom technologies and services, for a cash consideration of $800,000 payable in instalments. The first instalment of $273, 000 was paid on completion, $227, 000 to be paid within one year and $300, 000 payable upon achieving certain targets in 2014.
The company also added that Dialect has developed proprietary VoIP and mobile telephony technologies which, when integrated into Globo's products, would strengthen the Group's offering, also the purchase establishing Globo in the strategically important US market.
For the year ended December 31, 2011, Dialect generated unaudited revenues of $2.1 million and pre-tax profits of nearly $60,000. Dialect's Management would continue to be responsible for operations and product development with growth plans for the business including the expansion of its sales and marketing team for Globo's mobile product and service offerings within the US.
Commenting on the acquisition, Costis Papadimitrakopoulos, CEO of Globo said, "We will be able to generate new revenues quickly by marketing dBox PBX and Hosted PBX through our existing channels. Also, the integration of FMC into GO!Enterprise Server will open up new markets by enabling Globo to offer solutions not currently available."
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