Aspiro Secures a Presence in Finland, Acquiring One of Finland’s Largest Mobile Content Services Businesses

• Aspiro’s Board reached an agreement today to acquire Boomi, one of Finland’s largest mobile content services businesses. Boomi has operations in Finland, Norway and Denmark, with the Finnish operation generating some 70% of sales. The acquisition consolidates Aspiro’s already-secure mobile content services market positioning in the Nordic region. • Aspiro is now starting up in Finland—the only Nordic country where it does not have a presence so far. Norway and Finland are the Nordic region’s most highly developed mobile content services markets. • Boomi has a strong brand, with some 50% of sales in Finland through proprietary web and wap channels. Boomi has excellent advertising channels in most of the leading magazines in Finland. • In annualized terms, the acquisition brings estimated sales of some SEK 45 m and an EBITDA of SEK 9 m. • In time, this acquisition is expected to generate revenue synergies in an array of segments. Cost synergies are limited by Aspiro not already having any operations in Finland. • The total purchase price is some SEK 51.9 m, comprising SEK 37.9 m in cash and 2,965,995 new Aspiro shares, equivalent to a holding of 1.6% of Aspiro after the acquisition is consummated. Johan Lenander, Aspiro’s CEO, commented: “This acquisition gives Aspiro very secure positioning in Finland and a foundation for continued growth. It is a step in Aspiro’s strategy to become one of Europe’s leaders in mobile content services. By acquiring Boomi, we access its secure positioning in proprietary channels, which are time-consuming and costly to build in-house.”