IMImobile PLC IP Licensing Agreement (2529J)
21 Dezembro 2020 - 4:00AM
UK Regulatory
TIDMIMO
RNS Number : 2529J
IMImobile PLC
21 December 2020
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
21 DECEMBER 2020
RECOMMENDED CASH OFFER
for
IMImobile PLC ("IMImobile")
by
Cisco Systems Holdings UK Limited ("Bidco")
an indirect wholly-owned subsidiary of Cisco Systems, Inc.
("Cisco")
IP Licensing Agreement
On 7 December 2020, the board of directors of Bidco and the
Independent Directors of IMImobile announced that they had reached
agreement on the terms of a recommended cash offer by Bidco for the
acquisition of the entire issued and to be issued ordinary share
capital of IMImobile (the "Offer"). The Offer is intended to be
effected by means of a scheme of arrangement under Part 26 of the
Companies Act (the "Scheme").
Capitalised terms used in this announcement shall, unless
otherwise defined, have the same meanings as set out in the
announcement dated 7 December 2020 (the "Offer Announcement").
IMImobile and Cisco today announce that they have entered into
an IP Licencing Agreement pursuant to which IMImobile has granted
Cisco a non-exclusive worldwide right and licence for an initial
period of up to 3 years to:
-- advertise, promote, demonstrate, sell, distribute and
otherwise market certain of IMImobile's current or future products
either directly or indirectly, including on a stand-alone basis
and/or bundled with a Cisco product to provide support to Cisco
customers; and
-- to sub-license and authorise the granting of sub-licences,
including for support and inter-operability testing and potentially
development for certain of IMImobile's product on a stand-alone
basis and/or bundled with a Cisco product.
As set out in the Offer Announcement, Cisco values IMImobile's
products and services highly and wishes to utilise them as part of
its product offering as soon as practicable. The IP Licensing
Agreement provides Cisco with access to those IMImobile products on
standard commercial terms with immediate effect and will continue
in the event that the Offer were not complete for any reason.
The entry into the IP Licensing Agreement offers IMImobile the
possibility of significant revenue for future years with or without
the Offer being successful. This, in addition to the increasing
momentum from digital transformation trends, the new client wins in
the North American market and the pipeline of opportunities, means
that the Board expects the trading performance for FY22 to be
further enhanced from its previous expectations.
Enquiries:
IMImobile c/o Alma PR
Jay Patel, Group Chief Executive Officer
Michael Jefferies, Group Chief Financial Officer
Alma PR (PR adviser to IMImobile ) Tel: +44 (0)20 3405 0205
Rebecca Sanders-Hewett
Susie Hudson
Harriet Jackson
Investec (financial adviser, nominated adviser and joint broker to IMImobile ) Tel: +44 (0)20 7597 5970
Henry Reast
Virginia Bull
Sebastian Lawrence
N+1 Singer (joint broker to IMImobile) Tel: +44 (0)20 7496 3000
Tom Salvesen
Justin McKeegan
Iqra Amin
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END
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December 21, 2020 02:00 ET (07:00 GMT)
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