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LINK Mobility Group ASA Enters the Swiss Market by Acquiring the SMS Messaging Business in Switzerland Currently Operated by Horisen AG


News provided by

Link Mobility Group ASA

13 Dec, 2017, 14:40 GMT

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OSLO, Norway, Dec. 13, 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 the Swiss mobile messaging business ("Horisen Messaging") from the Swiss mobile messaging company Horisen AG.

Horisen AG was established in 2001, and is located in Rorschach, Switzerland. Horisen Messaging has a strong position in the Swiss market and is one of the leading mobile messaging providers in Switzerland with a strong footprint delivering services to more than 175 countries globally.

"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 the Swiss market with existing and new services going forward." says Arild E. Hustad, CEO of LINK.

"I am very happy that our messaging customers will be in very good hands with LINK Mobility in the future and that HORISEN AG can now focus 100% on its software business. This transaction is a real win-win situation for LINK Mobility and HORISEN AG. I am also very pleased that LINK Mobility decided to continue using for HORISEN Messaging AG the award-winning messaging platform software of HORISEN AG, to take advantage of its powerful features thus strengthen its competitiveness in the messaging business" says Fabrizio Salanitri, CEO of HORISEN AG.

The transaction will be structured as an acquisition by LINK of Horisen Messaging AG, a carve-out from Horisen AG, that upon closing will hold the Horisen Messaging business. The agreed enterprise value of the transaction is EUR 9.0 million, on a cash-free and debt-free basis. The enterprise value is based on a normalized EBITDA for 2017 of EUR 1.8 million multiplied by a factor of 5.

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

- 57% of the purchase price in cash upon closing,

- 43% of the purchase price in shares upon closing

The transaction is expected to close on 5 January 2018.

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.

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-swiss-market-by-acquiring-the-sms-messaging-business-in-switzerla,c2412720

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