CLX Communications AB (publ): CLX Communications completes the divestment of its global Mobile Payments business
Stockholm, Sweden - CLX Communications AB (publ) ("CLX") - (XSTO:CLX) - a leading provider of global cloud-based communication solutions, today announced it has completed the divestment of its global Mobile Payments business. As previously communicated, CLX has signed agreements to transfer its Mobile Payment business in Australia, UK and Ireland to local vendors. These contracts were part of the Dialogue acquisition earlier this year, and this final stage of the divestment terminates CLX's Mobile Payment business.
"The completion of this final phase removes the distraction of running non-core services from our business allowing us to focus on being the world's best cloud communications company," said Johan Hedberg, President and CEO of CLX Communications.
CLX acquired Dialogue with the clear objective of advancing its presence in Asia and bolstering its technical capabilities by leveraging the Sentinel security solution. The Mobile Payments business within Dialogue was always considered to be non-core to the CLX Cloud Communications product set, and as such, CLX will be passing the provision of the services in the UK and Ireland to another provider.
The final transaction includes an agreement with a UK provider and is based on a multiyear revenue share agreement and is expected to replace a portion of the approximately SEK 7 million of annual gross profit currently generated
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Chief Investor Relations Officer
CLX Communications AB (publ)
About CLX Communications
CLX Communications (CLX) is a leading global provider of cloud-based communication services and solutions to enterprises and mobile operators. CLX's mobile communication services enable companies to quickly, securely and cost-effectively communicate globally with customers and connected devices - Internet of Things (IoT). CLX's solutions enable business-critical communications worldwide via mobile messaging services (SMS), voice services and mobile connectivity services for the IoT. CLX has grown profitably since the company was founded. The Group is headquartered in Stockholm, Sweden, and has presence in a further 20 countries.
CLX Communications' shares are traded at NASDAQ Stockholm - XSTO: CLX
To learn more please visit: www.clxcommunications.com
This communication may contain certain forward-looking statements. Such statements are all statements that do not relate to historical facts and include expressions such as "believe", "estimate", "anticipate", "expect", "assume", "predict", "intend", "may", "presuppose", "should" or similar. The forward-looking statements in this release are based on various estimates and assumptions that in several cases are based on additional assumptions. Although CLX believes these assumptions were reasonable when made, such forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that are difficult or impossible to predict and that are beyond CLX's control. Such risks, uncertainties and important factors could cause the actual results to differ materially from the results expressly or implicitly indicated in this communication through the forward-looking statements. The information, perceptions and the forward-looking statements in this release apply only as of the date of this release and may change without notice.
Disclaimer: Every care has been taken in the translation of this press release. In the event of discrepancies, however, the Swedish original will supersede the English translation. This information is information that CLX Communications AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation.
The information was submitted for publication, through the contact person set out above, at 23:00 CET on October 12, 2017