Mobile financial services provider Vipera joins Aim via reverse takeover with the AIM-listed cash shell Ricmore Capital Plc.

PRESS DISPENSARY - Tuesday, Aug 17, 2010 - Vipera, mobile financial services provider, joins Aim through a reverse takeover with the AIM-listed cash shell Ricmore Capital Plc.

In addition to its AIM quote on the London market, Ricmore Capital brings cash resources which at December 2009 amounted to some GBP 950,000. These cash resources, together with a small private placing have funded the costs of the transaction and left the major part thereof available to fund expansion of the business.

Having acquired Vipera at a valuation of GBP 8.8m the enlarged group was re-admitted to AIM under its new name Vipera Plc on August 16.

Vipera is primarily known for its mobile banking systems. It provides a flexible solution that enables full mobile access to any financial service. Its multi-channel mobility solutions for mobile banking and wallet functionality provide ready deployment of versatile mobile money transfer and mobile payment services.

The Vipera Mobile Financial Services Platform (Vipera MFS) provides functionality across multiple mobile operators, supporting any kind of mobile device and cell phone, including the iPhone/iPad and Android handsets.

Vipera MFS implements market-leading security models such as two-factor authentication; it is based on open standards and can be integrated with existing Core Banking Systems via various middleware and EAI interfaces.

Vipera operates in a fast moving sector. The mobile banking and mobile payment market is expected to grow rapidly, from 67m users in 2008 to reach 977m by 2013; in value from $71bn to $862bn. The main drivers of this market are the mobile saturation, network upgrades to high-speed data, and accelerating take-up of smartphones.

Vipera operates with a low cost base, but has established technology that is already in use and for which there is the potential to expand into a sizeable business. Customers include Mashreq Bank (the largest private bank in the United Arab Emirates), Maybank Group (the largest financial services group in Malaysia), Ministry of Interior of Qatar, Qatar National Bank and Axiom Telecom.

The potential for the Vipera business within its market place provides a platform from which to establish value for both existing and new investors.

Notes for editors

Vipera&tm is a leading provider of mobile financial services platforms. The Vipera platform provides the easiest, fastest, most cost-effective way to develop and operate mobile data services. Solutions powered by Vipera run today on more than 500,000 phones, on hundreds of mobile networks in many countries. Founded in 2005, Vipera has offices in Zurich, Milan, London and Dubai.

For more information, visit http://www.vipera.com/ or contact info@vipera.com

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.