Globo buys Dialect Technologies

Globo, the mobile telecoms and software firm, has purchased Dialect Technologies, a New York specialist provider of Internet protocol (IP) telecoms technologies.

The AIM-listed company will pay $0.8m in total, with $0.273m having already been handed over, while $0.227m is due within one year of the takeover and a further $0.3m is payable which the firm achieves certain targets in 2014.

The acquisition establishes Globo in the strategically important US market.

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Costis Papadimitrakopoulos, Chief Executive Officer of Globo said: "We are very excited by the acquisition of Dialect. It represents a significant strategic step for Globo as it strengthens our international mobile product offering and provides a platform for our expansion into the US enterprise market."

NR