LINK Mobility Group ASA : Closing Completed in Connection with Acquisition of Simple SMS in Austria

OSLO, Norway, Jan. 24, 2018 /PRNewswire/ --

Reference is made to the stock exchange announcement from LINK Mobility Group ASA ("LINK" or the "Company") on 22nd of December 2017 regarding the signing of a definitive agreement for the acquisition of Austrian mobile messaging business ("Simple SMS Group") from the seller Christoph Holubar.

LINK has today completed the acquisition of Simple SMS Group by acquisition of all shares in Simple SMS GmbH and Simple SMS Wholesale GmbH. The acquisition was completed based on an updated estimate of the enterprise value of EUR 2.242 million, on a cash-free and debt-free basis. The updated estimated enterprise value of EUR 2.242 million is based on an update of the estimated normalized EBITDA for 2017 of EUR 0.358 million multiplied by a factor of 6.25. 

In connection with the acquisition of Simple SMS Group, Arild E. Hustad, CEO of LINK says: "I am really happy to announce that we have acquired Simple SMS Group which is a strong positioned mobile messaging provider in Austria with approximately 25% market share in the small and medium sized business segment. And we look forward to continue developing the Austrian 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 GMBH, Austria has acted as 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

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http://news.cision.com/link-mobility-group-asa/r/closing-completed-in-connection-with-acquisition-of-simple-sms-in-austria,c2437228

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