Closing completed in connection with acquisition of Simple SMS in Austria
Reference is made to the stock exchange announcement from LINK Mobility Group ASA ("LINK" or the "Company") on 22nd of December 2017 regarding the signing of a definitive agreement for the acquisition of Austrian mobile messaging business ("Simple SMS Group") from the seller Christoph Holubar.
LINK has today completed the acquisition of Simple SMS Group by acquisition of all shares in Simple SMS GmbH and Simple SMS Wholesale GmbH. The acquisition was completed based on an updated estimate of the enterprise value of EUR 2.242 million, on a cash-free and debt-free basis. The updated estimated enterprise value of EUR 2.242 million is based on an update of the estimated normalized EBITDA for 2017 of EUR 0.358 million multiplied by a factor of 6.25.
In connection with the acquisition of Simple SMS Group, Arild E. Hustad, CEO of LINK says: "I am really happy to announce that we have acquired Simple SMS Group which is a strong positioned mobile messaging provider in Austria with approximately 25% market share in the small and medium sized business segment. And we look forward to continue developing the Austrian market with existing and new services going forward".
The cash part of the transaction will be fully financed through LINK's corporate fund and bond.
Aabø-Evensen & Co Advokatfirma AS and Ernst & Young GMBH, Austria has acted as advisors to LINK Mobility Group ASA in connection with the transaction.
For further information, please contact:
Arild Hustad, CEO
LINK Mobility Group ASA
Mob: +47 95 24 19 30
About LINK Mobility Group ASA
LINK Mobility Group ASA is one of Europe's leading providers within mobile communications, specialized in mobile messaging services, mobile solutions and mobile data intelligence. The Group offers a wide range of scalable services and solutions across industries and sectors due to the growing demand of digital convergence between businesses and customers, platforms and users. The Group is headquartered in Oslo/Norway and is listed on the Oslo Stock Exchange (ISIN: NO0010219702). LINK Mobility continues to experience strong organic growth with a high degree of recurring revenue as customers tend to move more business activities onto the mobile platforms. In 2016, LINK Mobility had a total turnover of 924 million NOK now with offices in Norway, Sweden, Denmark, Finland, Latvia, Estonia, Bulgaria, Germany, Spain, Poland, France, Italy, Switzerland and Austria.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.