App Store Update & Notice of Results

RNS Number : 9500H

Bango PLC

07 June 2011

 



7 June 2011

Embargoed until 07:00

BANGO PLC

("Bango" or "the Company")

Bango App Store Update & Notice of Results

Bango now processing BlackBerry App store payments in multiple markets and multiple currencies

Bango plc (AIM:BGO.L), the mobile web payments and analytics company, confirms that following the rollout of additional operator billing capabilities in the USA, Canada, the UK and mainland Europe, the Company is now processing payments in US Dollars, Canadian Dollars, Pounds Sterling and Euros for sales of BlackBerry smartphone applications.

The app store, called BlackBerry App World, is available to users of BlackBerry smartphones in multiple markets across North America, Europe, Asia and Latin America. Most recently BlackBerry users on Vodafone UK and T-Mobile USA networks have started making payments for apps on their phone bills through Bango.

Bango provides the technology that enables these BlackBerry users to charge mobile application purchases to their operator phone bills. In addition, Bango is the merchant of record for operator-billed app sales, processing and settling revenue to each app developer selling through the app store.

The market for smartphones - sophisticated mobile phones that can download and run a range of applications, entertainment, books, videos and productivity tools - is expected to reach 1.7 billion devices by 2014, according to research from Analysys Mason.  

Revenue from mobile app sales is expected to grow at 62% CAGR through to 2012, reaching over $17 billion (Chetan Sharma Consulting). Analyst estimates place the value of mobile apps by 2014 ranging from $32bn up to $50bn.

Ray Anderson, CEO, commented: 

"The relationship with BlackBerry is an important one for us and we are pleased with the progress made to date. The BlackBerry App Store is available in over 100 countries and we remain fully committed to developing this significant market opportunity."

Bango intends to announce results for the year ended 31 March 2011 on 14 June 2011.

Contact Details:

Bango plc	Threadneedle Communications	Cenkos Securities plc
Tel. [phone] www.bango.com	Tel. [phone]	Tel. [phone]
Ray Anderson, CEO	Caroline Evans-Jones	Ken Fleming
Peter Saxton, CFO	Fiona Conroy	Beth McKiernan

About Bango

Bango (AIM: BGO) provides technology that enables commerce on the mobile web.

Bango enables businesses of all sizes to collect payment for music, games, applications, videos and services sold to internet connected mobile phone users.  Bango is able to charge payments to mobile phone bills or use other billing methods such as credit card based on intelligence about the consumer. Bango also provides an analytics service that provides accurate information about visitors and the effectiveness of marketing activities for mobile web sites.

Visit www.bango.com.

 

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