OSLO, Norway, Jan. 5, 2018 /PRNewswire/ --
Reference is made to the stock exchange announcement from LINK Mobility Group ASA ("LINK" or the "Company") on 13th of December 2017 regarding the signing of a definitive agreement for the acquisition of Swiss mobile messaging business ("Horisen Messaging") from the Swiss mobile messaging company Horisen AG.
LINK has today completed the acquisition of Horisen Messaging AG by acquisition of all shares. The acquisition was completed based on an agreed enterprise value of EUR 9 million, on a cash-free and debt-free basis. The enterprise value is based on a normalized EBITDA of EUR 1.8 million multiplied by a factor of 5.
In connection with the acquisition of Horisen Messaging AG, Arild E. Hustad, CEO of LINK, says: "I am really happy to announce that we have acquired Horisen Messaging the leading mobile messaging provider in Switzerland with more than 30% market share and a strong international network. We look forward to become the leading mobile messaging and solutions provider in Switzerland and to continue developing theSwiss market with existing and new services going forward." The cash part of the transaction will be fully financed through LINK's corporate fund and bond.
Aabø-Evensen & Co Advokatfirma AS and Ernst & Young AG, Switzerland has acted as legal advisors to LINK Mobility Group ASA in connection with the transaction.
For further information, please contact:
Arild Hustad, CEO
LINK Mobility Group ASA
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SOURCE LINK Mobility Group ASA