OSLO, Norway, Jan. 31, 2018 /PRNewswire/ --
Reference is made to the stock exchange announcement from LINK Mobility Group ASA ("LINK" or the "Company") on 21st of December 2017 regarding the signing of a definitive agreement for the acquisition of Italian mobile messaging business Archynet s.r.l. ("Total Connect") from the seller Claudio Gioiosa.
LINK has today completed the acquisition of Total Connect by acquisition of all shares. The acquisition was completed based on an agreed enterprise value of EUR 2.337 million, on a cash-free and debt-free basis. The enterprise value is based on an estimated normalized EBITDA for 2017 of EUR 0.425 million multiplied by a factor of 5.5.
Aabø-Evensen & Co Advokatfirma AS and DLAPiper, Italy has acted as legal advisors, and BDO Italy as financial 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