OneView has completed its reversal into Armour.
The all share deal was valued at £15.3m. The share price rose from 3.25p to 5p on the first day.
OneView has developed mobile technology that enables retailers to use digital technology to provide information to customers in stores. Research has shown that this type of digital sales tool can increase the conversion of interest into sales. The latest customer is Wickes.
OneView has been reporting under US GAAP so it has not capitalised any research and development spending. This is likely to change when the company switches to IFRS. Revenues are expected to be $8m in the year to March 2016. A loss of $1.4m is forecast but OneView could breakeven on revenues of $12m next year. If there are development costs capitalised then this could be a profit.
Armour had cash and the enlarged group has net cash of £2.8m.
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