Aspiro Makes another Acquisition in Finland, Becomes Market Leader

Today, Aspiro is acquiring Mobile Avenue Finland OY (”Mobile Avenue”), one of Finland’s largest mobile content services players. The purchase price is a cash settlement of approximately SEK 28 m. This acquisition means Aspiro almost doubling its presence in Finland and becoming the market leader. After the acquisition, Finland becomes Aspiro’s third-largest market.

Mobile Avenue Mobile Avenue sells mobile content services in Finland through media partners, proprietary wap and web pages and print media advertising. Half of sales are through various media partners and some 30% of sales are through proprietary wap and web pages (corresponding to Aspiro Channels). Mobile Avenue was founded in 2000 and now has over 20 full-time employees. Motive for the Acquisition Aspiro started up in Finland in fall 2005 through the acquisition of Finnish enterprise Boomi. The take-over of Mobile Avenue means Aspiro nearly doubling its size in Finland, thereby securing market leadership. Mobile Avenue is a good complement to the acquisition of Boomi. Aspiro has enjoyed secure positioning in Finland for some time through Aspiro Channels under the Boomi brand, but has not possessed any substantial media partner business. The Mobile Avenue acquisition advances Aspiro’s positioning in media partners and vis à vis mobile operators. Aspiro will also access the MAF brand, recognized in Finland for mobile content services. The transaction is expected to generate synergies and economies of scale, which initially may be secured within content procurement, and eventually, segments such as content management, services production and application development. Commenting, Johann Lenander, Aspiro’s CEO, said: “Aspiro’s objective is to be one of Europe’s mobile content services leaders. Our express strategy is to be the dominant player on all Nordic markets. The acquisition of Mobile Avenue is a very good complement to our previous take-over of Boomi—we’ll be the market-leader in Finland. We’ve got a very positive impression of the company’s organizational resources, which we expect to contribute to Aspiro’s continued growth and enhanced competitiveness in Finland.” Financial Effects of the Acquisition on Aspiro The Board of Directors considers that acquiring Mobile Avenue will add further impetus to Aspiro’s long-term sales and earnings growth. In annualized terms, the acquisition is expected to contribute sales of some SEK 28 m and EBITDA of approximately SEK 3 m, excluding expected synergies. Only limited restructuring expenses are anticipated as a consequence of the transaction. More detail on the division of the purchase price between goodwill and other intangible assets will be in Aspiro’s First-quarter Interim Report, published on 11 May 2006.