RA'ANANA, Israel, May 11, 2015 /PRNewswire/ --
MTS - Mer Telemanagement Solutions
Ltd. (Nasdaq Capital Market: MTSL), a provider of video
advertising solutions for online and mobile platforms as well as
innovative products and services for telecom expense management,
mobile virtual network operators and enablers and an IOT/M2M
enablement platform used by mobile service providers, today
announced that it had completed a private placement of 227,271
ordinary shares, constituting approximately 2.9% of the Company's
outstanding shares, for $500,000. The
proceeds of the placement will be used to augment the Company's
financial position after the acquisition of Vexigo Ltd. and to
provide it with additional working capital. The shares were sold to
Mr. Lior Salansky, chief executive
officer of the Company, and to two directors, Mr. Chaim Mer, Chairman of the Company, and Mr.
Adi Orzel, Chairman of the newly
acquired Vexigo subsidiary. The price paid per share of
$2.20 was equal to the closing price
of an ordinary share on the NASDAQ Capital Market on Friday, May 8, 2015. The private equity financing
was unanimously approved by the Company's audit committee and board
of directors.
About MTS
Mer Telemanagement Solutions Ltd. (MTS) is a provider of video
advertising solutions for online and mobile platforms as well as
innovative products and services for telecom expense management
(TEM), enterprise mobility management (EMM), mobile virtual network
operators and enablers (MVNO/MVNE), billing mobile money services
and solutions and an IOT/M2M enablement platform used by mobile
service providers.
Headquartered in Israel, MTS
markets its solutions through wholly owned subsidiaries in
Israel, the United States and Hong Kong and through distribution channels.
MTS shares are traded on the NASDAQ Capital Market (symbol MTSL).
For more information please visit the MTS web site:
http://www.mtsint.com.
Certain matters discussed in this news release are
forward-looking statements that involve a number of risks and
uncertainties including, but not limited to, risks in product
development plans and schedules, rapid technological change,
changes and delays in product approval and introduction, customer
acceptance of new products, the impact of competitive products and
pricing, market acceptance, the lengthy sales cycle, proprietary
rights of the Company and its competitors, risk of operations in
Israel, government regulations,
dependence on third parties to manufacture products, general
economic conditions and other risk factors detailed in the
Company's filings with the United States Securities and Exchange
Commission.
Company Contact:
Alon Mualem
CFO
Tel: +972-9-7777-540
Email: alon.mualem@mtsint.com
SOURCE MTS - Mer Telemanagement Solutions Ltd.