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Mobilesoft acquires Secure e Solutions
17:19, Friday, 17 August 2007

Sydney - Friday - August 17: (RWE Australian Business News) -
Mobilesoft Ltd (ASX:MSO) has entered an agreement under which it may
wholly acquire Zanell Pty Ltd, an unlisted company trading as Secure e
Solutions.
Secure e Solutions provides electronic payment software products
to Tier 2 Australian banks and its customers include Bendigo Bank, Bank
of Queensland and Suncorp.
Secure e Solutions has a range of mature electronic payment
software products known as Bank*Link, Web*Link, Auto*Link, Secure*Link,
Quick*Link and ERP*Link.
The acquisition is viewed as strategically important for
Mobilesoft because the intellectual property, technology and experience
acquired will be utilised in offering end-to-end solutions with its
Video on Demand and Electronic Rental Service offerings in the New Media
markets.
The company says these offerings will all require end-to-end
electronic payment capability.
The purchase price of $3.13m approximates to 4.1 times the
unaudited earnings before interest and tax (EBIT) of Secure e Solutions
for its fiscal year ended June 30 2007 and 3.7 times its forecast EBIT
for fiscal year 2008.
Mobilesoft today lodged an Appendix 3B for the issue of 10.43m
shares, equating to the initial payment of 10pc of the purchase price.
This imputes a value of 3c to each Mobilesoft share.
Shares in Mobilesoft closed up 0.1c to 2.4c today.