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Press Releases
Zingo License Agreement
24th November 2004
Manganese Bronze Holdings PLC, the leading manufacturer of the distinctive ‘black taxi’, is pleased to announce that it has entered into a license agreement with Computer Cab Plc (ComCab) for its Zingo mobile phone hailing system. ComCab is a subsidiary of ComfortDelgro Corporation Limited of Singapore, one of the world’s leading land passenger transport groups.
Under the terms of the license agreement, Manganese Bronze will transfer to ComCab its existing London Zingo operations and most of the assets of the Zingo mobile phone hailing system on December 13th 2004. In return for the license, Manganese Bronze will receive a license fee of up to 50% of the accumulated profits earned by ComCab from the Zingo system in London and neighbouring counties. The license is for an initial term of twenty years. ComCab and its affiliates will also have various rights to license the Zingo technology in the other markets in which it and its affiliates operate, principally in the Far East.
Ian Pickering, Chief Executive of Manganese Bronze, said:
“The license agreement with ComCab will end the ongoing losses being incurred by Manganese Bronze from the Zingo operations. With the additional resources of the ComCab organization, Zingo will be better placed to deliver its potential and meet customer demand for its market leading service.”
Mike Galvin, Managing Director of ComCab said:
“This agreement will be good for Londoners and visitors to London as they will enjoy an even better taxi service providing reliability and safety. It is also a very good deal for London’s renowned taxi drivers and the shareholders of both ComfortDelGro and Manganese Bronze.”
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