Aspiro acquire Telesta

Aspiro acquire Telesta With Thorleif Herrström as the new CEO Aspiro, the wireless services company, has agreed to buy Telesta for SEK 55m in shares with Thorleif Herrström (currently director of business development at Telia Mobile) as new CEO of Telesta Aspiro AB has signed a Letter of Intent to acquire Telesta AB for SEK 55m, payable in 183 333 Aspiro AB shares. The acquisition is subject to normal due-diligence and to resolutions necessary to issue new shares in Aspiro at the extraordinary shareholders meeting on the 10th of January 2000. Telesta, a company with strong competence within textbased real-time communication, is a leading provider of mobile services so that deaf, hard of hearing and speech impaired people can join the world of mobile phones. Telesta will therefore give Aspiro an additional unique product offering towards mobile operators worldwide. The agreement of Thorleif Herrström to join the Aspiro group provides a further significant strengthening of Aspiro's executive management team. "The acquisition of Telesta will give Aspiro a new strong edge towards mobile operators world-wide and a presence in the US through Telesta's office in Boston "says Christer Månsson, responsible for Merger and Acquisition at Aspiro. "With Aspiro as our owner we will significantly improve our possibilities to rapidly take a lead in this new emerging market" says Thorleif Herrström new CEO of Telesta For further information, please contact: Christer Månsson, Aspiro, tel: +46 709 91 80 01 Thorleif Herrström, Telesta, tel: +46 709 16 92 82 About Telesta Telesta is a Service Network Provider in mobile communication technology. The company has developed "Mobile TextPhone" offering telecommunication services to deaf, hard of hearing, and speech impaired people, hence enabling these groups to join the world of mobile phones being used in our society today. Telesta has so far signed an agreement with Europolitan and are in close discussions with several international mobile operators. Telesta was founded in 1994 and has 18 employees with offices in Stockholm, Boston and Hongkong About Aspiro Aspiro develops, markets and sells products for wireless communication between mobile units and the Internet. The services are based on both SMS and WAP technology. The company focuses on three different customer segments: operators, content providers and enterprises with mobile workforces. Since the incorporation of the company in August 1998, Aspiro has expanded rapidly and the company now employs 61 people and has offices in Malmö, Karlskrona and Oslo. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/12/21/19991221BIT00640/bit0001.DOC http://www.bit.se/bitonline/1999/12/21/19991221BIT00640/bit0002.pdf