MTG divests portfolio company Zoomin to Azerion
STOCKHOLM, October 28th 10.30am CET 2019 — Modern Times Group MTG AB (MTG) has sold 100 percent of its ownership in Zoomin to Azerion.
MTG has sold its portfolio company Zoomin to Azerion, a leading Dutch-based European technology company in media and entertainment. The transaction sees 100% of MTG’s ownership in Zoomin divested.
In the first six months of 2019, Zoomin delivered net sales of SEK 50 million and EBITDA of SEK -34 million. As a result of the transaction, MTG will report a net loss of approx. SEK 80 million in Q4 2019 and will further reclassify the business segment “Other” to “Discontinued operations”.
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For more information:
Lars Torstensson, EVP Communications & Investor Relations
Direct: +46 (0)702-734 879, lars.torstensson (at) mtg.com
Oliver Carrà, Public Relations Director
Direct: +46 708 666 433, oliver.carra (at) mtg.com
Reach us: communications@mtg.com
Download high-resolution photos: Flickr
Follow: mtg.com / Twitter / LinkedIn
About MTG AB
MTG (Modern Times Group MTG AB (publ.)) (www.mtg.com) is a strategic and operational investment holding company in esports and gaming entertainment. Born in Sweden, the shares are listed on Nasdaq Stockholm (‘MTGA’ and ‘MTGB’).
About Azerion
Azerion (azerion.com) is a tech company in the media and entertainment business.
- Hundreds of millions of people play our games.
- Advertisers reach massive audiences and targeted groups with our tech
- Publishers earn top revenue with our tech and engage quality audiences with our content
- Uniquely, Azerion works across these groups. We spot synergies, find efficiencies and weave together the best strands from our business for each of our users.
Azerion: content, reach, revenue, engagement — a million possibilities
