TIDMMPOW

MoPowered Group PLC

07 March 2014

 
 For immediate release   7 March 2014

MOPOWERED GROUP PLC

("MoPowered" or "the Group")

New Customer and Sector Wins

Client Acquisition Continues to Accelerate

MoPowered Group plc, the mobile commerce specialist, is delighted to announce that it continues to build on the progress achieved in 2013 with a strong start to 2014 in terms of client acquisition. In the first two months of the year the Group has secured 20 new clients across a broad range of retailers, including several significant new names. This continues the acceleration of client acquisition achieved over the course of 2013.

In particular, MoPowered has signed successful multi-chain books retailer, The Works, which is now working with the Group to strengthen its mobile commerce capabilities. Additionally the fast-growing online fashion pure-play, Atterley Road, has signed up to MoPowered's software-as-a-service ("SaaS") platform, in order to drive its sales through smartphones.

Since the start of the year, MoPowered has also extended its presence across a broad range of retail sectors including food and drinks, gifts and home improvements. Wins have come from all areas of MoPowered's marketing activities including a strong performance in the middle market.

These new client acquisitions are a direct result of MoPowered's investment in its sales and marketing activity and the recent strengthening of the sales team, both of which were key objectives following the Group's successful IPO. The funds raised at that time have been utilised to drive this growth.

As indicated at the time of the pre-close update in January, mobile commerce continues to be a key driver of retail sales, and these client wins demonstrate the attractiveness of MoPowered's offering across a wide variety of e-commerce businesses. The Group's proven SaaS platform can be deployed rapidly and without significant upfront cost, enabling clients to benefit cost-effectively from the considerable growth opportunities arising from the increasing levels of mobile device-initiated internet traffic hitting their websites.

Dominic Keen, CEO, commented:

"Throughout MoPowered we are encouraged that we are starting to see the results from the increased sales and marketing activity made possible by MoPowered's IPO in late December 2013. The recent client acquisitions across a number of retail verticals indicate the potential for adoption of our mobile commerce across the full spectrum of retailers which is encouraging for our business. As mobile commerce becomes an increasingly important driver of online sales, we believe that MoPowered is ideally placed to deliver our feature-rich, cost effective and rapid-to-deploy solution to retailers and build the broad customer base further."

 
 MoPowered:         020 3242 0515 
 Dominic Keen 
 Ben Carswell 
 
 N+1 Singer:        020 7496 3000 
  Gillian Martin 
   Shaun Dobson 
 
  Buchanan:         020 7466 5000 
  Charles Ryland 
  Sophie McNulty 
  Clare Akhurst

NOTES TO EDITORS

MoPowered is a 'Software-as-a-Service' ('SaaS') platform, launched in March 2012, which works with businesses of all sizes, to automate websites and enable mobile commerce. Key distribution partnerships with PayPal, WorldPay and MasterCard enable the Group to access the majority of UK merchants.

The software platform allows automated development of mobile sites rather than custom deployment with the corresponding time and cost advantages. The commercial model is predominantly based on long-term contracted, recurrent revenues.

MoPowered is well positioned to capitalise on the new types of shopping opportunities created by mobile devices. Retailers face significant challenges and are therefore outsourcing to expert mobile partners such as MoPowered. Management believes that half of the e-commerce market has online sales of less than GBP20m per annum and SaaS solutions are likely to be the best economic alternative for these merchants.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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