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Bango in £5m placing and acquisition

The mobile payments group’s shares fell 10 per cent on news of the placing of 2.8m shares, and the purchase of a data management business
January 24, 2018

Mobile payments company Bango (BGO) has announced a £5m placing at 180p and the acquisition of data management business Audiens. This will cost €1.48m (£1.3m) initially, followed by €0.63m along with 521,803 shares and 738,399 warrants. The shares tumbled 10 per cent to 196p.

IC TIP: Buy at 196p

Since 2016, Bango has been developing technology to procure insights from the data on its platform, helping merchants improve their marketing effectiveness. Meanwhile, Audiens has a cloud-based data platform, which organises and analyses data, allowing advertisers to target users based on their activities.

The combined platform will provide customer insights – in compliance with regulations – benefiting merchants, mobile operators and advertising partners.