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LINK Mobility Group ASA Enters the French Market by Acquiring Netmessage SARL


News provided by

Link Mobility Group ASA

26 Oct, 2017, 15:08 GMT

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OSLO, Norway, October 26, 2017 /PRNewswire/ --

LINK Mobility Group ASA ("LINK"), one of Europe's leading and fastest growing providers of B2C mobile messaging and mobile services, has today entered into a definitive agreement for the acquisition of French mobile messaging company Netmessage SARL ("Netmessage").

Netmessage was established in 2006, and is located in Paris, France. Netmessage has a strong position in the French market and is one of the leading mobile messaging and marketing providers in France and has launched many new services within this space over the last years.

"I am glad to announce that we have taken our first step into the French market through the acquisition of Netmessage. This is a big European market experiencing strong growth and demand for advanced mobile messaging and solutions services. Netmessage has a strong customer base of more than 700 enterprise customers in France, and we see a good potential to grow the customer base in France through increased penetration of our existing and new services. LINK has now grown its customer base in Europe through organic growth and acquisitions over the last twelve months from 6,000 to more than 16,000 customers." says Arild E. Hustad, CEO of LINK.

Matthieu Fitoussi says: "I am very proud that Netmessage joins a group like Link Mobility Group that will provide more solutions to our clients and enable the company to pursue its growth."

The agreed enterprise value of the transaction is EUR 9.9 million, on a cash -free and debt-free basis and assuming a normalized level of working capital. The enterprise value is based on a normalized EBITDA of EUR 1.65 million multiplied by a factor of 6.

The purchase price under the transaction will, subject to customary adjustments, be settled as follows:

- 70% of the purchase price in cash upon closing,

- 15% of the purchase price as sellers' credit to be paid in two equal installments 6 and 12 months after closing. Interest of 4.75% per annum is to be paid in quarterly arrears, and

- 15% of the purchase price to be held in escrow and released in two equal instalments 6 and 12 months after

closing.

The transaction is expected to close on 31 October 2017.

The cash part of the transaction will be fully financed through LINK's corporate fund and bond.

Aabø-Evensen & Co Advokatfirma has acted as legal advisors to LINK Mobility Group ASA in connection with the transaction.

CONTACT:

For further information, please contact:

Arild Hustad, CEO

LINK Mobility Group ASA

arild.hustad@linkmobility.com

Mob: +47-95-24-19-30

This information was brought to you by Cision http://news.cision.com

http://news.cision.com/link-mobility-group-asa/r/link-mobility-group-asa-enters-the-french-market-by-acquiring-netmessage-sarl,c2376905

The following files are available for download:

http://mb.cision.com/Main/8551/2376905/742634.pdf

PDF

http://news.cision.com/link-mobility-group-asa/i/link-mobility-logo,c2260074

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