Aspiro Acquires 25,5 percent of Mobile Entry
Effective today, Aspiro has acquired 25,5 percent of the shares of the Norwegian company Mobile Entry, which develops technology, solutions and concepts for mobile interactivity and marketing. The acquisition is part of Aspiro’s focus on Business Solutions.
Background
Effective as of today’s date, Aspiro has acquired 25,5 percent of the shares of Mobile Entry AS. The purchase price is a combination of cash payment for newly issued shares in Mobile Entry of NOK 1 751 450 and cash payment for existing shares in Mobile Entry of NOK 249 162, 80. Aspiro has an option to acquire an additional 25, 5 percent of the stocks within six to twelve months. The additional capital to Mobile Entry is to be used for expansion and the transaction is not expected to generate any significant earnings effect for Aspiro in 2007.
Motivation for the acquisition
During the first six months of 2007, Aspiro reorganized its operations into three business segments, Mobile Entertainment, Business Solutions and Search Services. The acquisition of 25,5 percent of the stocks in Mobile Entry is part of Aspiro’s strategy for Business Solutions.
– The acquisition is part of our strategy for the Business Solutions segment and mobile platforms for the Business market. Mobile Entry fits well into our organizational structure and will be an excellent complement to our existing business, says Aspiro’s CEO Gunnar Sellæg.
About Mobile Entry
Mobile Entry is a Norwegian company which develops technology, solutions and concepts for mobile interactivity and marketing. Mobile Entry focuses on delivery to media corporations, advertisers and companies needing to exploit mobile technology as a communications channel.
– Mobile Entry’s technology together with Aspiro’s expertise and market position will give us great growth and expansion opportunities in the Business segment. There is a great demand of technology and tools to exploit the mobile phone as a communications channel and this agreement enables us to meet this demand, says Mobile Entry CEO, Bjørge Karlsøen.