Acquisition

RNS Number : 6992U

LMS Capital PLC

19 May 2008

 

19 May 2008

LMS Capital plc

Cityspace acquires Kizoom, innovator in transport information via mobile and the internet

LMS Capital plc ("LMS") is pleased to announce that Cityspace Limited ("Cityspace"), the UK-based technology company in which LMS is the majority shareholder, has acquired Kizoom Limited ("Kizoom"), a market leader in delivering real-time transport information to the internet and mobile devices.

Cityspace designs and delivers systems providing information and transaction services to the public in urban environments and in transport. Services in transport include journey planning, real-time passenger information and off-board ticketing.

Founded in 1999, Kizoom develops and operates mobile software applications for the major transport operators as well as selling bespoke customer information software services to public transport companies. Kizoom's client list includes the five largest UK mobile operators, Transport for London (TfL), National Rail Enquiries (NRE) and the Department for Transport (DfT). 

Cityspace and Kizoom have collaborated very successfully on a number of projects, including most recently the delivery of timetable information to mobile devices for the National Express East Coast rail network. Kizoom's application development skills are held in high regard and Cityspace will benefit considerably from Kizoom's established connections to many public transport real-time and timetable data feeds. 

Commenting on the transaction, Martin Pexton, Managing Director of LMS, said: 

"The completion of this transaction is an important milestone in Cityspace's strategic growth plan, and follows the appointment of Andrew Fraser as Chief Executive earlier this year. Cityspace is already a market leader in intelligent transport systems and the acquisition of Kizoom will both enhance the portfolio of products and services and open up many new opportunities. We believe there is considerable potential in this market and look forward to supporting Cityspace's further development."

For further information please contact:

 

LMS Capital plc	020 7935 3555
Robert Rayne, Chief Executive Officer Martin Pexton, Managing Director Tony Sweet, Chief Financial Officer
Arbuthnot Securities Limited	020 7012 2000
Alastair Moreton
Brunswick Group LLP	020 7404 5959
Simon Sporborg Leonora Pou Oliver Hughes

About LMS Capital 

LMS Capital plc is an independent investment company whose shares are traded on AIM. The investment portfolio comprises investments in both the US and UK, with a spread of early stage and second round technology investments, development capital and mature company buy-outs. 

www.lmscapital.com

About Cityspace

Since 1996 Cityspace has been delivering digital information to users in public spaces through screens and touch screen terminals.  Today the Company is focused on delivering information services to the travelling public for many of the largest and most innovative authorities and operators in transport. 

Cityspace is an information broadcast specialist that transforms transport data into traveller information for bus, rail and air passengers to make it easy to use public transport.  The information is delivered at the point of need through a range of interactive terminals, broadcast screens and now to mobile phones and the web.  Over 60 clients across the UK benefit from Cityspace's expertise in content design and development, data and network management and 'smart' street furniture design, installation and management.  Visit www.cityspace.com for more information.

www.cityspace.com 

 

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