Aspiro sells remaining Entertainment business in Finland
Aspiro has today signed an agreement to sell its remaining Mobile Entertainment business in Finland to the company Exsol Oy. The purchase price amounts to a minimum of 3 million plus an earn out model and Exsol Oy takes over the operation from today.
The initial purchase price amounts to 100 000 Euro plus an earn-out model minimum of 200 000 euros over a two year period. The earn-out model is based on 15 percent of the pay-outs from the operators.
Net sales for the Mobile Entertainment business in Finland from January-September 2010 was about 7.5 million SEK. Earnings after direct expenses for the same period amounted to approximately 1.8 million SEK and EBITDA to approximately negative 0.7 million SEK.
Aspiro divested its operations in Mobile Entertainment in Norway, Sweden and Denmark on 1 July 2011. Aspiro retain its activities in the Mobile Solutions area in Finland, the business will be operated from Sweden.
"We are streamlining our operations and focusing mainly on streaming services in music, television and video, as well as business solutions in the Mobile Solutions area. We see very high growth potential in the future and it is therefore positive that we can focus even more on our core business, "says Aspiro's CEO Gunnar Sellæg.
For more information or questions, please contact:
Kristin Breivik Eldnes
Head of Corporate communication and IR
Tel: +47 908 07 389
Aspiro has unique positioning as the world’s only provider of complete TV and music streaming services for partners that want to put their own branding on the service. Aspiro has over ten years’ experience in mobile technology and retail in northern Europe, and delivers services to partners worldwide like T-Mobile, Telefónica O2, Telenor, 3, TeliaSonera, Tele2, the BBC, Aftonbladet, mBlox, TVNorge, Entel and VG. Aspiro is listed on Nasdaq OMX Nordic Exchange Stockholm and has a local presence in all the Nordic and Baltic countries. Sales for continuing operations in 2009 were SEK 249 m and the company has some 115 employees.