LINK Mobility Group AS, strengthens its position in the South-Eastern European market by acquiring the Teracomm Group.
LINK Mobility Group AS, Europe’s leading and fastest growing provider of B2C mobile messaging and mobile services, has today closed the transaction with the eastern European mobile messaging and solutions companies Tera Communications AD and TeraVoice EAD and their subsidiaries, ALLTERPAY EOOD, TERACOMM RO SRL, TERA COMMUNICATIONS DOOEL, operating under the name TeraComm.
TeraComm has activities and employees in Bulgaria, Romania and North Macedonia, and LINK is taking over all 45 employees in the 5 entities acquired.
“I am really happy to announce that we have now closed the transaction with the Teracomm Companies. This is LINK’s second investment in South-Eastern Europe and the fit between Voicecom and the Teracomm Companies is very good. We will now have a solid platform to develop and grow LINK further in the region through our strong sales focus and innovation of mobile messaging and solutions services. The South-Eastern European market is experiencing strong underlying growth and we really look forward to taking a big slice of this growth going forward”, says Thomas Berge of LINK.
“Based on our attitude to offer our clients the best technical solutions and thanks to our team of professionals, the Teracomm Companies have become reliable business partners and have conquered stable positions in the market of mobile services. The sustainable growth in the recent years has paid back. However, based on the results of the IoT business and the interest of the investors in this field, at this point of time, the sale of the European part of our telecommunication business is assessed as an opportunity to change the focal point of ALLTERCO’s business and to concentrate our resources fully on the development of IoT products and services”, says Dimitar Dimitrov, CEO of ALLTERCO
Aaboe Evensen & Co (Oslo), Paul Hastings LLP (London) and Boyanov (Sofia) has acted as legal advisors, while BDO has acted as financial advisors to LINK Mobility Group AS during the transaction.
For further information, please contact:
Thomas Berge, CEO/CFO
LINK Mobility Group AS
Mob: +47 41 31 90 28
About LINK Mobility Group AS
LINK Mobility Group AS is Europe’s leading provider within mobile communications, specializing in messaging, digital services and data intelligence. The Group offers a wide range of innovative and scalable solutions across industries and sectors, creating valuable digital convergence between businesses and customers, platforms and users. The Group is headquartered in Oslo/Norway and is owned by Abry Partners, located in Boston, US. LINK Mobility continues to experience strong organic growth as clients move more business activities onto the mobile platforms. In 2018, LINK Mobility had a total turnover of 1,972 billion NOK with offices in Norway, Sweden, Denmark, Finland, Estonia, Latvia, Bulgaria, Germany, Spain, Poland, France, Switzerland, Austria, Italy, Hungary and UK.
About Abry Partners
Abry Partners is an experienced and successful media, communications, business and information services sector focused private equity investment firm in North America. Since their founding in 1989, they have completed over $82 billions of leveraged transactions (including many roll-up investment strategies) and other private equity, mezzanine or preferred equity investments. Currently, they manage over $5.0 billion of capital in their active funds.