eServGlobal Limited eServGlobal receives A$11.4M escrow payment (7357J)

TIDMESG

RNS Number : 7357J

eServGlobal Limited

10 August 2012

eServGlobal Limited (eServGlobal or the "Company")

Receipt of Escrow Funds from Oracle

Paris: 10 August 2012

eServGlobal Limited (ASX:ESV, AIM:ESG) is pleased to announce that it has received the final escrow amount of AUD $11.4 million relating to the sale of its USP business to Oracle in 2010.

In 2010 eServGlobal sold its USP business and assets to Oracle for AUD$106.7 million prior to purchase price adjustments of AUD$3.6 million. The Company received an initial payment of AUD$79.4 million with the balance held in escrow and to be released in two installments, both of which have been received by eServGlobal. Oracle and eServGlobal continue to work together as partners in the mobile market.

The receipt of the escrow marks another step in the achievement of eServGlobal's strategic objectives, and enables the Company to focus on growing its mobile money and value-added services business, adding five new customers to the core business during the financial year to date. Based on these new customer wins, revenue is anticipated to grow in the second half of the financial year.

About eServGlobal

eServGlobal specializes in Mobile Money solutions and Value-Added Services (VAS), to help Mobile Service Providers increase their revenue and gain and maintain customer ownership. eServGlobal invests heavily in product development, using carrier-grade, next-generation technology and aligning with the requirements of more than 80 customers in over 55 countries.

For more than 25 years mobile and financial service providers have used eServGlobal solutions to lead and innovate in their local markets, leveraging their core assets and their trusted agent and subscriber relationships.

With 13 offices globally, eServGlobal provides full "end-to-end" and "any account to any account" Mobile Money Services and International Remittance Services. In strategic partnership with BICS, the HomeSend solution is the only mobile-centric international remittance hub to gain endorsement from the GSM Association.

eServGlobal's Value-Added Services in promotions, loyalty and messaging enable service providers to engage with their subscribers in a personalized and dynamic manner.

To reduce time-to market and to meet the needs of operators and banks, eServGlobal provides multiple licensing alternatives as well as SaaS-based products and services.

eServGlobal is listed on the Australian Securities Exchange (ESV) and the London Stock Exchange AIM (ESG). More information at: www.eservglobal.com

For further information, please contact:

 
 eServGlobal                                   www.eservglobal.com 
 Tom Rowe, Company Secretary                   T: +61 (0)7 3302 0194 
  Christina Tubb, Head of Investor Relations 
  investors@eservglobal.com 
 Cenkos Securities plc                         www.cenkos.com 
  Ivonne Cantu/Stephen Keys (Nomad)             T: +44 (0) 20 7397 8980 
 Newgate Threadneedle Communications           www.newgatethreadneedle.com 
  Caroline Evans--Jones/Josh Royston/Hilary     T: +44 (0) 20 7653 9850 
  Millar 
 Charles Stanley Securities                    www.csysecurities.com 
  Dugald Carlean/Paul Brotherhood               T: +44 (0) 20 7149 6000

This information is provided by RNS

The company news service from the London Stock Exchange

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