Aspiro Acquires Mobile TV Pioneer

Effective today, Aspiro has acquired Rubberduck Media Lab Ltd. (“Rubberduck”), which supplies leading mobile TV, video and radio solutions to customers including TV4, Telenor, NRK, MTV Nordic, the BBC and Fox Movies. This acquisition marks the start of Aspiro’s mobile TV initiative.

Background Effective as of today’s date, Aspiro has acquired 100% of the shares of Rubberduck Media Lab Ltd. The purchase price is some SEK 25.2 m cash. In addition to the initial purchase price, a maximum cash settlement of some SEK 9.0 m may be payable to the company’s former shareholders and current staff, assuming the achievement of a number of predefined sales and earnings targets for the full year 2008. This transaction is not expected to generate any significant earnings effect in 2006. Motivation for the Take-over Aspiro has previously announced its intention to expand in a number of new growth segments: mobile marketing, search services, mobile TV, original music and communities on a larger scale. The acquisition of Rubberduck marks the start of Aspiro’s mobile TV initiative. From Day One, Aspiro will have one of the market’s pre-eminent mobile TV, video and radio solutions for download and streaming. The acquisition also brings a number of significant partners and customers in mobile TV such as Telenor, NRK, MTV Nordic, the BBC and Fox movies. Robust growth is expected for the mobile TV and radio market through the coming years, to become one of the mobile market’s major drivers. This consensus is shared by TV and radio channels, media corporations, operators and content providers, suggesting ready access to content, network capacity, and triggering broad-based demand. Aspiro will secure positioning by offering partners new entertainment services (mobile live TV and radio, news, sports highlights, series, etc.) and interactive TV/video services (dating, chat, news headlines, voting, etc.) Moreover, Aspiro’s ambition is to build some of the market’s most attractive offerings directly for consumers. The acquisition is expected to generate synergies in marketing/sales and the new segments, mobile marketing and music. “Rubberduck has an impressive customer base, substantial know-how and a technology solution that is a world leader,” commented Johan Lenander, Aspiro’s CEO. “By adding Aspiro’s well-proliferated distribution network in the Nordic and Baltic regions, this business will grow faster than would be possible otherwise.” Financial Effects for Aspiro Rubberduck’s revenues were some SEK 2.8 m in 2005, and some SEK 3.3 m in the first half-year 2006. Aspiro’s objective is for Rubberduck to achieve sales of SEK 30 m in 2009. The transaction is not expected to generate any significant earnings effect in 2006. No restructuring expenses are anticipated as a result of the acquisition. The business will be organized under a separate entity with its office in Oslo. Rubberduck—Overview Rubberduck supplies mobile TV and radio solutions, plus on-demand multimedia to TV, media, music and film companies, mobile operators and content providers. Rubberduck’s current customers include the BBC and BBC World, MTV Nordic, FOX Movies, NRK, TV4, Telenor, Netcom/TeliaSonera, Sprint, Musicbrigade, VG, Aller and Aftenposten. Rubberduck’s studio:1 product enables TV and radio channels, as well as content providers, to offer it live, on-demand content to all video-enabled mobile handsets and other mobile terminals regardless of operator or network, and without the user needing to install dedicated software or a media player. Rubberduck was incorporated in 2004 by a number of entrepreneurs with backgrounds in companies including Ericsson, Telenor, NetCom/TeliaSonera, Canal Digital and NRK of Norway. All co-founders remain with the company; there is a total of six staff in Oslo. Alongside NRK, Rubberduck was the first European player to offer live mobile TV and radio on all mobile networks. Rubberduck’s solutions have gained widespread recognition, with sources including Red Herring rating the company as a world leader in mobile TV and radio technology. Alongside NRK and Telenor, Rubberduck was nominated for ‘Best TV and Video Service Provider’ at the Mobile Entertainment Awards in London. For more information on Rubberduck, go to: www.rubberduckmedialab.com Press and Analysts’ Conference, Today at 11:30 a.m. In light of this acquisition, Aspiro is organizing a press an analyst’s conference at 11:30 a.m. today. Aspiro’s CEO Johan Lenander and Rubberduck’s CEO Ola Svartberg will present the acquisition at the event, as well as demonstrating the company’s solutions, while offering Aspiro’s view of what mobile TV is and how mobile TV may be consumed in the future. Location: Wedholms Bar, Nybrokajen 17 (side entrance), Stockholm, Sweden Time: today at 11:30 a.m. RSVP: by e-mail: investor.relations@aspiro.com or text: 46 (0)70 991 8010 Lunch will be available.