IMImobile - thoughts?

IMImobile (LON:IMO) popped up on one of my screens recently. It's got reasonable growth (albeit mostly through acquisitions), the PE ratio isn't too crazy, and the chart setup for Minervini lovers looks of interest trading above the 50 and 200 day moving average and arguably in a period of consolidation. I thought I'd generate a discussion thread to hear views as I am considering buying.

In short, it basically helps companies to communicate with its customers, particularly through mobile devices. It counts businesses like O2 and Vodafone, or banks like Barclays, among its own customers. IMImobile (LON:IMO) helps them to deal with complaints or basic queries through chat and social media. It improves call-centre efficiency, fraud detection, and improved customer service. It is also developing AI and automated services although I haven't worked out how successful these products are yet. I imagine they could get knocked out by a competitor with a good AI system if they are not careful when AI technology has more success.

Note that there is an issue about a large number of share options which Paul Scott has previously covered. I am OK with this as I have factored it into my calculations of the company's profitability etc. You just need to be careful not to ignore it I think.

PROS:

• It operates in a growing sector and speedy customer service is becoming more important for businesses in the social media age. The company seems ambitious. I think I might have used its systems with Vodafone which I've found to have good mobile and online customer interaction.
• Probably less affected by the economy than some companies and may be more Brexit-proof as it is focused on UK and rest of the world outside Europe at the moment. It also benefits from a weak pound (which has recently devalued further). So this would fit well in my own portfolio as I am particularly interested in companies which may be more insulted from a UK downturn.
• Good revenue growth of c.40% last year. BUT this is acquisition-led. Organic growth was 7%. 14% revenue growth expected for 2019.
• Its most recent acquisition of the Canadian company Impact Mobile looked like good value and helps the company move more into North America.
• It talked about the new financial year starting well.
• 14.7p EPS expected for 2019 which means this is trading around 21x. Not that expensive for an ambitious tech company (albeit one which seems to rely more on acquisition for growth).
• Has good recurrent revenue which is driven by the volumes of interactions.

CONS:

• I have no idea but I am guessing the tech it uses is not that complicated. I also haven't fully researched the competition but it sounds like the sector is quite fragmented. So it may not have a technological moat.
• Couldn't a company like dotDigital (LON:DOTD) muscle its way in on its business given the similarities? I imagine at some point in the future there will be some further consolidation of these types of companies. 
• Stockopedia is showing a low operating margin although this might partly reflect its acquisition strategy. However, gross margin fell by 17% last year due to certain acquisitions so there may be an opportunity to improve the margins of its new businesses.
• I wonder if it might be negatively effected by GDPR given revenues are dependent on volumes of interactions. Its last financial year ended March so we wouldn't have seen any impact yet if there's to be one.

Has anyone else researched this company and have anything they'd add to the above? I am sympathetic to buying some but I haven't fully decided yet.