"Press Releases / 11th December 2017
Omnichannel chat from IMImobile offers seamless agent channel navigation for CXone users.
London December 11, 2017 NICE inContact (Nasdaq:NICE) today announced that IMImobile has joined the DEVone development program to provide omnichannel chat on CXexchange, the most extensive technology ecosystem currently available in the customer experience market. Products available on the CXexchange marketplace are designed to integrate with NICE inContact CXone, the worlds #1 cloud customer experience platform.
IMImobiles omnichannel chat solution allows CXone users to instantly add additional messaging channels including SMS, Facebook Messenger, Twitter, In-App chat, Email, Skype for Business and WeChat for customer support to their existing NICE inContact interface.
NICE inContact customers will benefit from IMImobiles digital chat and customer experience automation solutions by enabling:
Easy integration of mobile and digital channels into the existing NICE inContact chat interface; agents can continue to use the same UI they are already trained on.
Orchestration between automated and agent assisted interactions to improve operational efficiencies and customer support experiences.
Artificial intelligence-powered chatbots to enable automation and orchestration of omnichannel customer journeys across contact centre systems and business processes.
NICE inContact CXone empowers organisations to provide an exceptional customer experience by acting smarter and responding faster to ever-changing consumer expectations. To meet the needs of organisations of all sizes, CXone combines best-in-class Omnichannel Routing, Workforce Optimisation, Analytics, Automation and Artificial Intelligence all on an Open Cloud Foundation.
The need for contact centres to provide an omnichannel, digital customer experience is imperative within the current market, where consumers increasingly prefer to use digital messaging channels according to new research from IMImobile.
Jay Patel, CEO, IMImobile
IMImobile is excited to partner with NICE inContact and join CXexchange marketplace. IMImobiles digital chat solutions have proven to enable intelligent and proactive customer engagement while improving first contact resolution and reducing inbound call volumes.
DEVone offers partners broad tools and resources to enable them to create new applications on CXone, including extensive documentation and support, and access to an online developer community. Companies interested in how IMImobiles application works with CXone can visit CXexchange to learn more about the application and read reviews. CXexchange is a centralised, state-of-the-art marketplace for developers to market and sell their CXone-based applications.
Todays consumers seek a conversational chat-based interaction with companies according to our research, said Paul Jarman, CEO of NICE inContact. With IMImobiles omnichannel chat on CXone, contact centre agents can easily navigate chat interactions across social, mobile and online channels. We welcome IMImobile as part of the CXexchange marketplace.
"IMImobile (IMO) has agreed to acquire Healthcare Communications, which provides appointment management and patient experience communications to the UK healthcare market. This will entail an initial consideration of £9m payable in cash upon completion, with a deferred consideration of up to £6m payable in cash or shares, based on performance over the next two years. The acquisition is being funded with existing cash and with a new £12m debt facility provided by Silicon Valley Bank. IMImobile says Healthcare Communications has an established track record of profitable growth, with three-year revenue and gross profit compound annual growth rates of 50 per cent and 54 per cent respectively. The acquisition is expected to be immediately earnings enhancing. The groups shares were up about 2 per cent in morning trading. Buy."
And IMO is the featured stock in the Mail's market report this morning:
Shares in Imimobile nudged up after it revealed it had acquired a healthcare communication rival for £15million.
The company, which sends automated text messages on behalf of restaurants, delivery firms and hospitals, has snapped up Healthcare Communications. It said that the deal would enable it to provide communications services to 140 NHS organisations, and is expected to boost earnings this year."
"IMImobile Targets NHS Efficiency Drive
Thursday 07 December 2017
IMImobile Targets NHS Efficiency Drive
Cloud communications software and services provider IMImobile is making a play for the NHS IT services market through the acquisition of UK patient communications specialist Healthcare Communications. The move is aimed at enhancing IMImobiles public sector position through establishing a foothold in the £1.6b healthcare segment.
The NHS has identified better use of digital patient communications as an important driver of efficiency savings as it works to close a £30b funding gap by 2020/21. The Department of Health estimates that missed hospital appointments cost the NHS around £750m a year. Healthcare Communications, which turned over £3.6m last year and provides services to 140 NHS trusts, has established technologies which address the Did Not Attend problem. IMImobile believes adding these capabilities to its products and solutions that will provide significant cross-sell and up-sell opportunities in the NHS IT services arena (read the latest UK Public Sector SITS Market Trends & Forecasts Report for further insight into the healthcare market).
Under the terms of the deal, IMImobile will pay an initial consideration of £9.0m in cash on completion withh additional deferred payments of up to a maximum aggregate value of £6.0m, split over two years based on a mix of gross profit growth and EBITDA targets. The deferred consideration will be satisfied either in cash or shares. It is being funded from a mix of existing cash resources and a new £12.0m debt facility agreed with Silicon Valley Bank.
This latest announcement comes hot on the heels of the purchase last month of US messaging provider Sumotext (see here). It also marks a continuation of a heavily acquisition led expansion strategy which has accounted for three quarters of the near 50% top-line growth achieved in its last financial year (see here). This business has grown consistently at double-digit rates while generating cash. There is every reason to expect that this rate of progress will continue."
"Questor: three things can make a share price rise and this stock has them all
29 November 2017 6:18am
When a fast-growing company with a loyal customer base and no debt is cheaply valued, theres usually a good reason.
In the case of IMImobile, the Aim-listed software firm, the reason is likely to be the presence of a large and persistent seller on the shareholder register in the shape of Toscafund Asset Management.
Tosca has been gradually reducing its stake in IMImobile. Its motivation seems to be more a matter of the management of its portfolios than any negative view of the stock itself, but the effect has been to put downward pressure on the share price.
This, of course, presents an opportunity for other investors, as long as they are prepared to wait until Toscas selling is no longer perceived as a major drag on the price. Certainly the fundamentals of IMImobile seem strong. In the words of Tony Dalwood of Gresham House, the asset manager, which owns about 14pc of the company, it embeds its products in its customers operations.
IMImobile software carries out tasks such as sending the text messages that greet you when you land in a foreign country or the messages from banks that ask you to confirm that you have made a particular transaction, Dalwood said.
Once you have signed a contract to use this kind of software you are unlikely to switch to another product and IMImobile has a good record of keeping its customers once it has won them.
He said it was growing strongly and generating plenty of cash. Earnings growth is coming from a growing customer base it is forming a good beachhead in America, for example. This growth is both organic and from acquisitions, he said. Recent interim results showed revenue and gross profit both increasing by double-digit percentages.
Normally such a good performance would result in the shares being highly valued but the perception that Tosca could continue to sell large numbers of IMImobile shares has prevented this from happening, some brokers have suggested.
Many professional investors prefer the Ebitda measure of earnings when they value shares, as opposed to the after-tax profits used for the conventional price-to-earnings ratio. Ebitda stands for earnings before interest, tax, depreciation and amortisation, and because of those disregarded costs it will normally be higher than the after-tax figure.
This means that the ratio of the share price to Ebitda will be lower than the normal p/e ratio for a given company typically about 40pc lower, Dalwood said. But if we compare IMImobiles price-to-Ebitda ratio with the valuations of other companies we get a sense of how cheap it is.
It is currently trading at a ratio of between eight and nine. Link Mobility, a comparable peer, trades at more than 20, while private equity deals in this area are being done at Ebitda multiples of between 10 and 14.
Earnings growth and the potential for the valuation to come into line with similar companies provide two routes for IMImobiles shares to rise but there is a third potential reason, Dalwood said.
Share price growth has one of three causes: rising profits, higher valuations and balance sheet developments, he said.
If, for example, a business is funded equally by debt and equity and uses its cash flows to pay off half the debt, the value of the shareholders portion will increase significantly, all else being equal. This is a standard private equity approach to an investment.
IMImobile has already paid off all its debt and amassed some cash, so in its case the way to make the balance sheet work better for shareholders would be to start to pay a dividend.
This could also help the shares to be given a higher valuation.
One small-cap tech stock that does appear to be attractively valued, is IMImobile (LSE: IMO). The £124m market cap cloud communications software specialist helps its clients use mobile and digital technologies to communicate and engage with customers. Notable clients include Vodafone, Pizza Hut and the BBC.
Through a combination of organic growth and acquisitions, IMO has grown at a formidable rate in recent years, with sales rising from £39m in FY2012 to £76m last year. Earlier this month, it announced that revenue and gross profit this year are expected to be above current expectations.
Half-year results released this morning show further progress. Revenue surged 48% year-on-year to £53.1m, including 12% organic growth, while EBITDA rose 8%. The company saw particularly strong growth in India and South East Asia. Earnings growth was a little underwhelming, however, at just 1%. Chief Executive Jay Patel said: We remain confident about the Groups prospects for the remainder of the year. We expect revenue and gross profit to be in line with market expectations that were recently upgraded following the trading update given on 1 November and underlying EBITDA to be in line with expectations.
Analysts current expect earnings of 11.1p for this, placing the stock on a forward P/E of 18.3. At that valuation, I believe IMImobile warrants a closer look."
After a good performance last financial year, IMImobile, the cloud communications provider, delivered 12% organic growth in the first half to end September. Acquisitions boosted top line figures, up 48% to £53.1m. Gross profit rose only 22% however after the integration of the Infocast acquisition and a decline in the companys Middle East and Africa operation following the Nigerian currency devaluation and the re-negotiation of a large contract with pan-African MNO MTN. Group EBITDA advanced 8%, to £5.7m, a margin of 23.1%.
3 of the top 4 UK retail banks use IMImobile to manage end customer interactions via SMS and Facebook Messenger and the companys broad portfolio of SMS, Chat, AI and campaign management solutions is used by a wide range of utility providers and MNOs. The business already has a global customer base, with the European and Americas operations accounting for two-thirds of revenue and the other India/SE Asia and Middle East/Africa units roughly the same size. The US operation has been boosted by the recent acquisition of US messaging provider Sumotext and success with distribution partners such as NICE and AT&T.
Growth can be expected on several fronts; enterprises are consistently adding new channels to contact customers, IMIMobile's broad portfolio and recent acquisitions provide cross-selling opportunities, the expanded enterprise business in the US offers lots of potential as does the underlying expansion of markets in Asia and Africa. In the more developed European markets, the addition of higher value-added services, a larger sales effort and the developing partner network should drive additional revenue and margin.
IMIMobile is now building the global sales and distribution network to leverage its central Connect platform and IP. This business has grown consistently at double-digit rates while generating cash. There is every reason to expect that this rate of progress will continue."
Good, solid H1 results, and a confident outlook for H2 of meeting recently upgraded expectations.
Big increases in revenues and gross profit, with net profit masked somewhat by big increases in investment and resources going forward.
The growth potential is huge in AI and automation capability, GDPR etc, and also geographically with the first steps forward now advancing in the USA.
And there's a nice £15.4m cash pile.
The outlook statement remains very confident:
"Jay Patel, Chief Executive Officer of IMImobile PLC, commented:
"The Group has continued to perform well, both financially and operationally, and delivered another period of profitable, cash generative growth. We have consolidated our leading position in the UK, achieved very strong organic gross profit growth in India and South East Asia, and despite known headwinds in Middle East and Africa, achieved 12% organic revenue growth across all regions. Post period, IMImobile also completed the acquisition of Sumotext, providing a platform to launch IMImobile's product offering to the enterprise market in the US.
"This growth has been driven by the continued global demand for cloud-based solutions that can help deliver digital transformation, automation and cost-cutting. IMImobile has created a market leading product suite that focuses on real time, interactive customer communications and service automation and we are excited about the benefits that new emerging technologies can deliver.
"We remain confident about the Group's prospects for the remainder of the year. We expect revenue and gross profit to be in line with market expectations that were recently upgraded following the trading update given on 1 November and underlying EBITDA to be in line with expectations."
Citywire AA-rated small cap supremo Giles Hargreave has more than doubled his holding in cloud communication and software provider IMImobile (IMOI) as it drifts lower from last months record high.
Hargreave upped his stake in the business from 2.4% to 5.7% of the shares worth £7 million at a price of 200p, down from an all-time high of 221p in early October.
The shares are primarily held by clients of his eponymous broker and fund manager Hargreave Hale which was this summer purchase by Canadian banking group Canaccord.
Leading UK hedge fund manager Toscafunds small cap mandates have recently banked some profits on the tightly-held stock, reducing their stake from above 18% to 13.4%.
Investec reiterated its buy guidance last week, on a 250p price target. That followed a trading update saying full year profit was likely to beat earlier expectation, despite upping its investment in sales and distribution."
A message from Ross Venter, CEO of IMImobile South Africa, on the rename of Archer Digital SA.
After the successful IMImobile acquisition of South African based Archer Digital in October of 2015, the team in South Africa have been laying the groundwork for supplementing the solutions they offer to blue-chip clients with the IMImobile product suite. Negotiations with two of South Africas premier banking institutions began in 2016 around installing elements of the IMIconnect digital customer engagement platform into those banks. A combined effort, utilising multiple IMImobile resources from around the world, has resulted in the first full installation of IMIconnect into the fastest growing and most innovative bank in Africa.
As this first of many successes nears completion, and the interest shown in the IMImobile software and solution suite grows, it is an opportune time to present a more unified corporate image to the South African and African markets by changing the name of Archer Digital to IMImobile South Africa. With effect from 1 November 2017 our South African operation now bears the IMImobile name. The reaction from clients has been extremely positive and supportive and will enable our South African business to grow with customers knowing that the world-class digital communications technology solutions available to them are tried and tested on an international stage, and yet customized for the African market with a local IMImobile company on hand to provide ongoing support and relationship management."
IMIMobile adds US messaging platform to extend reach
The chances are that if youve had an SMS or Whatsapp message from your bank, utility or mobile service provider, AIM-listed IMIMobile will have been at the centre of it. IMIMobiles platform, applications and AI capability joins up customer experiences across multiple channels and interacts with legacy enterprise systems to transform customer journeys and enables large organisations to react more quickly as customer preferences change and communications channels proliferate.
IMIMobile has built an Enterprise cloud communication platform, IMIconnect, which supports a wide range of capabilities to enable enterprises to access chat systems, automate customer queries, use social media channels, drive marketing campaigns channels over multiple channels and communicate effectively with end customers over multiple channels. These systems are also key to many fraud management and online authentication systems.
The business is very UK-centric, driving 60-65% of its revenue here, but todays move, to acquire Sumotext, an established US-based communications platform provider for US$4.5-6m, should enable IMIMobile to address the US market and migrate its capabilities into the huge US market.
Surprisingly perhaps, the US market appears to be behind the UK in terms of managing customer interactions (look at the progress of Eckoh there) and the omni-channel capabilities of IMIMobile should find a ready market. Sumotexts portfolio is reportedly complementary to IMIMobiles product set and IMIMobile expects to invest significantly in sales and marketing to drive cross-sell and up-sell opportunities. The acquisition is forecast to be earnings enhancing in the year to March 2019. The Sumotext CEO will join the IMIMobile senior management team.
IMIMobile management also reports that trading for the half year was in line with expectations but cautions that additional £0.5m marketing spend in the US will push H2 EBITDA below current expectations.
- this acquisition provides a pathway for launch into the USA
- it's "complementary to IMImobile's product set, providing mobile solutions that enable businesses to manage digital interactions with their customers"
- earnings-enhancing in the year to March'19
- current year revenue and gross profit expected to be above market expectations
The small caveat is that the acquisition requires £0.5m of additional marketing costs this year which will reduce EBITDA, but this is necessary for the additional return next year and should be welcomed.
RNS out, with interims to be released on Tuesday 21st November and analyst meetings and presentations to follow.
Given the bullish outlook in the 28th June prelims, and with no problems mentioned in today's RNS - plus a Tuesday release augurs well - I'd expect the numbers to be nicely in line at the least:
The 2018 financial year has started well with trading in line with expectations. We have good earnings visibility thanks to our long-standing client relationships, pipeline of new deployments and high mix of recurring, repeating and transactional revenues.
We believe that, as managing mobile and digital touchpoints become critical for all organisations, we can continue to grow our client base across all regions and increase the size of each relationship. We intend to accelerate growth through our partnership strategy, including seeking out international partners, and are increasingly confident after the early wins we have had this year."
"IMImobile wins contract with CarillionAmey to deliver digital contact centre optimisation
10th October 2017
IMImobile is selected to help improve the contact centre experience through digital channels, for CarillionAmey customers
London, 10 October 2017 IMImobile, a cloud communications software and solutions provider, has been chosen by CarillionAmey to improve their contact centre experience through digital channels, for customers using their services across the defence estate in the UK.
CarillionAmey, which works on behalf of the Defence Infrastructure Organisation, has chosen to use IMIchat, a cloud application built specifically for contact centres, to enable customer service agents to have live two-way conversations with Armed Forces personnel across SMS, Facebook Messenger, Twitter, and Webchat, alongside their existing voice channels.
CarillionAmey repairs and maintains more than 49,000 homes for Service families, and looks after the infrastructure of 280 RAF stations, army garrisons, naval bases and defence sites across the UK. IMIchat will support the Ministry of Defences digital transformation strategy, through their supply chain, and help improve time critical communication for all military families and estate end users when they experience problems in and around their property or estate buildings.
IMImobile was chosen by CarillionAmey because of its robust enterprise-grade technology as well as being an established leader in digital customer interaction.
Stuart Jones, Customer Services and Communications Director for CarillionAmey, said: We are absolutely committed to delivering smarter and more efficient solutions to our Armed Forces and their families. Continuing to improve our customer service is imperative to our ongoing development as a business.
IMImobile was a natural fit because of its vast experience and expertise in providing cloud communications software to public sector companies, enabling us to embrace new digital technologies to communicate and engage with our customers across the defence estate.
Jay Patel, Chief Executive Officer of IMImobile, commented: We are pleased to be part of CarillionAmeys digital transformation strategy and to support the Ministry of Defence. IMIchat will allow customer service agents to enhance interactions with the service families and personnel across all digital and mobile channels, therefore allowing better communication whilst driving contact centre efficiency.
We are also excited about the opportunities to help optimise the customer service experience through the integration of intelligent and innovative solutions such as chatbots in the near future.
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