Shares in payments group Mobile Embrace are going nuts

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Shares in Mobile embrace soared in early trade after the mobile payments group announced a 71% lift in revenue to $33.02 million for the full year.

The marketing company also announced another acquisition, Vizmond Media and its automated performance marketing platform.

Mobile Embrace, which provides mobile and digital infrastructure to marketers, publishers and telecos, paid $2.5 million for Vizmond Media plus potential further payments up to $3.5 million over three years.

Vizmond is forecast to deliver revenue of $2.5 million and $1 million in earnings in 2016.

“The acquisition delivers on the company’s focus to strategically grow its business in mobile marketing and payments, delivering greater revenue and profit, and increasing shareholder value,” says Mobile Embrace CEO Chris Thorpe.

Brett Tompson, Vizmond Media’s managing director, is joining the company.

Vizmond joins other acquisitions including the Performance Factory and mobile advertiser Eggmobi bought by Mobile Embrace since December.

Mobile Embrace increased revenue by 71% to $33.02 million for the full year to the end of June. Net profit was up 22% to $3.05 million.

The company says industry forecasts point to strong and continued growth in the mobile payments and mobile marketing sectors.

Mobile Embrace shares jumped more than 11% to $0.295.

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