Tech firm VMob to change name to Plexure
The new name comes from the Latin word plexus, which means "the art of weaving together."
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Hawke’s Bay
Mobile advertising technology company VMob [NZAX: VML] wants to change its name to Plexure Group, subject to shareholder approval.
VMob, which works with global retail customers such as McDonad’s Ikea and 7-Eleven, has expanded its offering to include Internet of Things devices, in-bar screens, RFID tags and beacons, to increase revenue streams.
“The sheer breadth of our offering means that in the future we need a brand name that can carry our promise with longevity and meaning,” chief executive Scott Bradley says.
The name Plexure comes from the Latin word plexus, he says, which means “the art of weaving together.”
“That weaving together of multiple channels of digital, tailored engagement is what our clients look to us to provide and this is precisely what we can and do deliver.”
Once a name change is approved by shareholders, the newly-named company’s stock ticker will be PLX. A vote is due by July 22.
VMob listed on the NZX in January. Since then, it has doubled revenue but widened its annual loss from $4.4 million to $6.6 million for the year ended March 31, 2016, due to increased investment in the US market.
It raised $3.3 million in May from Australasian investors and has signalled it may raise more capital in the second half of 2016.
VMob shares recently traded at 33c.
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Chelsea Armitage
Thu, 07 Jul 2016
Thu, 07 Jul 2016
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Tech firm VMob to change name to Plexure
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