First Global Data Limited

May 21, 2013 09:00 ET

First Global Data Completes Acquisition of F1Soft

TORONTO, ONTARIO--(Marketwired - May 21, 2013) - First Global Data Limited ("First Global" or the "Corporation") (TSX VENTURE:FGD) is pleased to announce that, further to its press release of April 1, 2013, it has acquired 70% of the issued and outstanding securities (the "Acquired Shares") of F1Soft International Pte. Ltd. ("F1Soft"), a private Singapore company, an arm's length party to the Corporation.

Pursuant to the terms and conditions of the share exchange agreement dated March 29, 2013, the Corporation issued an aggregate of 3,243,243 securities (the "Consideration Shares") at a deemed price of $0.37 per share to the shareholders of F1Soft in exchange for the Acquired Shares. The Consideration shares are subject to various hold periods expiring on September 9 and November 29, 2013, May 29 and November 29, 2014 and May 29, 2015.

"We are excited about the acquisition of F1Soft as it represents a significant step in First Global's objective of becoming a global leader in mobile money services," says Andre Itwaru, Chairman, President and Chief Executive Officer of First Global. "F1Soft has a suite of powerful and proven mobile technology products that complements and strengthens First Global's current capabilities."

About F1Soft

F1Soft International is one of the world's leading companies for developing and deploying mobile and online financial transaction technology solutions and one of the world's largest mobile money deployers. More than 70 organizations across the world use F1Soft technology solutions, the majority of which are banks and telecom companies. F1Soft was established in 2004 and has a presence in Nepal, Singapore, Cambodia and India. F1Soft is highly recognized as a leader in the mobile payments industry and has been the recipient of numerous awards including the prestigious Red Herring Top 100 Asia award in 2012.

About First Global

The Corporation, through its wholly owned subsidiary, First Global Data Corporation, is in the business of delivering among other things, online and mobile money consumer services internationally. Services include international money remittance, mobile peer to peer transactions, mobile payments, online and mobile payroll and bill payment solutions. First Global also enables its strategic partners and clients around the world with leading edge financial services technology products. First Global's goal is to become the global leader in the mobile money and online financial services sector. First Global maintains a strong focus on compliance and holds licenses in the USA and other regions around the world. The Corporation's electronic transaction infrastructure currently extends to approximately 49 countries worldwide through its own and third party agent and partner network, with a focus on significant expansion globally.

This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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