Closing of the LCC Pakistan acquisition
Talkpool today closes the acquisition of LCC Pakistan. The acquisition is expected to substantially increase Talkpool’s revenues and profit margins.
More than 99.9% of all shares in LCC Pakistan (Pvt) Ltd have been purchased by TalkPool AG. This acquisition, published in a press release dated 21 June 2017, has thus been successfully completed today. TalkPool intends to consolidate LCC PAK as of the 1stof November 2017. LCC PAK has approximately 1,000 employees and revenues of 10 million euros. The acquisition has been funded through a directed share issue, in which existing shareholders were prioritized in relation to their ownership of Talkpool shares.
Talkpool's Chairman Magnus Sparrholm says, "Having succeeded in completing and financing our most important acquisition so far, we’re looking forward to moving on to the next step in Talkpool's development with the aim firmly set on the Internet of Things."
G&W Fondkommission has acted as financial advisors and Setterwalls Advokatbyrå AB as legal counsel to TalkPool. Alpen Capital (ME) Limited acted as financial advisors for LCC.
For additional information contact:
Erik Strömstedt, CEO TalkPool, email@example.com, Tel: +41 81 250 2020
TalkPool AG is listed on NASDAQ First North. TalkPool builds, maintains and improves telecommunication networks globally. Through its cutting-edge technical expertise, long experience and agile business model, TalkPool offers global telecom vendors and operators high-quality services on short notice no matter the location. Moreover, TalkPool is one of few companies with actual solutions and contracts in place in the exciting market for Internet of Things. Remium Nordic AB is TalkPool’s Certified Advisor.
This information is inside information that TalkPool AG (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 16.00 CET on the 9th of November 2017.