VOGO Targets Mobile Audio Acquisition
By Community | September 20, 2019
French production technology company VOGO is aiming to complete acquisition of Vokkero, a mobile audio company whose activities have included equipping referees at the last for FIFA World Cups.
Montpellier-based VOGO, which focuses on in-venue fan engagement, has made a firm offer which received a favourable opinion from the board of ADEUNIS, the parent group of Vokkero, which has granted VOGO exclusivity until 31 October 2019. The parties are aiming to complete the transaction in October 2019.
VOGO, which is listed on the Euronext Paris stock exchange, has just reported revenue from activities came to €735,000 in the first half of 2019, an increase of 157% relative to the first half of 2018.
This strong growth was driven by the surge in number of events covered to a total of 422 in the first half, compared with 269 for the year-earlier period. VOGO derives more than 20% of its revenue from international operations.
Founded in 2013, VOGO develops, markets and distributes a solution for broadcasting live audiovisual content based on streamed video processing technology protected by four patents.
As expected, the ramp-up in growth was underpinned by the increase in billings in respect of championships (€405,000, up 216%), positions taken on new major events (€217,000, up 156%), and the increase in contributions from indirect distribution networks (€82,000, up 69%).
Vokkero derives more than 70% of its revenue from sports. Its ‘Squadra’ solution was notably selected to equip referees during the last four World Cup football championships, as well as by a host of professional sports leagues worldwide.
Vokkero generated revenue of €5.8 million for the financial year ending 31 March 2019, an increase of 23% year-on-year. It currently employs 25 people in France (Crolles) and the U.S. (New York).