it seems to have started a lot of buying.

The annoucement was clearly coming yesterday!! All good news and only going to help the ramp up in the US.

21 Sep Globo PLC Daniel Stewart Buy 78.00 133.00 133.00 Reiterates

Globo Plc (GBO) is the top performer on London’s FTSE AIM 100 Index this year as it sold more software to support people bringing their own mobile phones to work, and it plans to expand in markets including Asia and Latin America.

The stock has almost quadrupled this year, giving the Athens-based company a market value of 275 million pounds ($442 million). The number of bring-your-own-devices in the U.S., U.K., Germany, India, China and Brazil will climb to 405 million by 2016 from 198 million this year, according to Cisco Systems Inc. (CSCO), the biggest maker of computer-networking equipment.

“We expect the BYOD trend to continue to accelerate, and this gives us a very good push to offer our technologies in different countries and in different market segments,” Globo Chief Executive Officer Costis Papadimitrakopoulos said in a phone interview from Athens. “We have managed to build different offerings on this platform to attract different sizes of customers.”

Globo secured contracts this year to develop mobile-phone applications for companies including Estee Lauder Cos. (EL), Dixons Retail Plc (DXNS) and Daimler AG (DAI)’s Mercedes-Benz luxury-car division. First-half revenue from Globo’s Go!Enterprise product to build, deploy and manage secure mobile applications for employees’ own devices more than doubled from the previous six months to 10.2 million euros ($13.9 million), with sales in 16 countries.

The stock, which is traded in London, rose 1.3 percent on Oct. 4, taking the advance to 290 percent this year

Here is a bit more guff on the above reported today on Bloomberg.


Dramatic Growth

BYOD is “a new sector,” Kostas Ntounas, an analyst at NBG Securities SA in Athens, said in an interview. BlackBerry Ltd., a traditional supplier of business smartphones, “is now falling apart and there is room for all these companies to grow going forward.”

In February, Globo signed an agreement with Ingram Micro Inc. (IM), the world’s largest technology distributer, to supply BYOD products to U.S. retailers.

“Investors are really starting to focus on the fact that international revenue is growing quite dramatically,” said Darren Freemantle, who holds 700,000 shares in Globo for the 28.9 million-pound MFM Techinvest Technology Fund. (CFTTECA) “Looking forward, it’s all about the BYOD market, where Globo has emerged as a major player.”

Globo’s total sales jumped 28 percent last year to 58.1 million euros, as Latin American revenue soared to 11.6 million euros from 2.2 million euros, and Asian sales rose 72 percent to 10.6 million euros.

U.S. Competitors

Globo was founded in 1997 in Greece, where sales fell 13 percent to 20.3 million euros last year. Globo divested part of its Greek assets at the end of 2012 to focus on international clients, and retains manufacturing in the country.

The company has gained exposure to emerging-market growth through its CitronGo! and Go!Social brands, which help with access to e-mail and social networks on non-smartphones, Papadimitrakopoulos said. The systems contributed 17.9 million euros of revenue in the first half, or 56 percent of the total, and were sold in 32 counties.

Globo faces competition in the BYOD market, particularly from the U.S., where companies such as Airwatch LLC, MobileIron Inc. and Good Technology are seeking the same customers.

Globo’s share price may increase further if there’s an initial public offering of Good Technology, Ntounas said.

Greek Divestment

“Globo still trades at a discount versus comparable companies,” Ntounas said. “A Good Technology IPO will be a benchmark in terms of valuation and multiples for Globo and may cause the share price to rise.”

Good Technology was in talks with investment banks about a potential IPO, the Wall Street Journal reported in March, citing people familiar with the move. A spokeswoman for the company described talk of a stock sale as “speculation,” when contacted by Bloomberg News on Oct. 4.

At the end of last year, Globo divested 51 percent of a Greek software operation.

“One of the things that was holding the company back over the last year or two was its connection to Greece,” said Freemantle of MFM Techinvest.

To contact the reporter on this story: Natasha Doff in London at ndoff@bloomberg.net

To contact the editor responsible for this story: David Risser at drisser@bloomberg.net

Also comment that Globo likely to benefit with blackberry break up and possibility of Good Technology of the US to float, which could show Globo's under valuation.

There may be some bid speculation surrounding todays' rise.

I hope not yet, more jumping on board with potential US growth by leveraging Ingram Micro. Bit of consolidation today no bad thing.

The stock has certainly becoming high profile. It can't be a bad thing.

Over the past week, Globo has participated in three Private Investor presentation events during which it received several questions relating to working capital and the mechanics and impact of the disposal in December 2012 of 51 per cent of its Greek subsidiary, Globo Technologies S.A. ("GT").

The presentations followed a successful placing, supported by International and UK institutional investors, to raise £24 million of equity to accelerate the Group's expansion plans.

Globo's published annual accounts have been audited thoroughly and contain all the disclosures required by International Financial Reporting Standards (IFRS). Nevertheless, the Board believes that providing further insights into working capital movements and the mechanics and impact of the disposal of GT will enable investors to gain a fuller understanding of the Group accounts.

The Board of Globo attaches the highest importance to transparency in its communications with the financial community and, in order to ensure that followers of the Group have a fuller understanding, has decided to publish on its website, as soon as possible, further analysis on the items mentioned above.

The information is expected to be posted on Thursday, 31 October 2013, if not earlier, when its provision will be notified.

Down 12% today and mostly sells.

Quite a big pullback now from 85 or so, but the future looks rosy for this baby. i got in at 20, some months back, so can't complain.

Down 20% i would consider taking a bit of profit here chessplayer.

Chessplayer maybe Mitzy is right , i years ago watched Baltimore Tech drop like a stone before i sold at a big loss i might add, no point in catching a falling knife!! I learned my lesson all those years the hard way trust me! One off you will be proved right in time!

I remember Baltimore back in 99 never invested myself but it was the stockmarket darling I recall before it ultimately collapsed.

Yeah Mitzy it certainly was the Stock market darling, going great guns untill a reverse take over did it in unfortuately , had great encrypt tech to sell worldwide! Like Dialog or Dog , a lot off these reverse take overs often end in disaster for the share holders!

Clearly profit taking following investors presentations whilst clarity is awaited on cash flow information before end of the month. Assuming nothing untoward, looks overdone. Good buying opportunity?

If the 200 DMA doesn't provide support then 40p is the next stop. I agree with mitzy. If you are in profit, probably best to take it now.

I bought at 20 and cashed in half when they reached 44, so I thought I'd let it ride.

I've increased my holding sub 50p