Reference is made to the stock exchange announcement from LINK Mobility Group ASA (“LINK” or the “Company”) on 30th of June 2017 regarding the signing of a term sheet for the acquisition of Bulgarian mobile messaging company Voicecom AD. Voicecom is one of the leading providers of value added mobile services in Bulgaria with a market share of approximately 40%.
LINK has today completed the acquisition of Voicecom AD by acquisition of all shares. The acquisition was completed based on an agreed enterprise value of EUR 3.82 million, on a cash-free and debt-free basis. The enterprise value is based on an adjusted EBITDA of EUR 0.683 million multiplied by a factor of 6.
Due to LINK’s solid cash position after a strong cash flow from its operations and the successful placement of EUR 50 million bond in February 2016, the cash part of the transaction will thus be fully financed through LINK’s corporate fund and bond.
In connection with the acquisition of Voicecom AD, Arild E. Hustad, CEO of LINK says: “I am very happy to announce the acquisition of Voicecom, one of the leading mobile messaging providers in the Bulgarian market, a market undergoing a strong economic development and growth, with good potential through more than 7 million inhabitants. Furthermore, we are witnessing that the demand for mobile messaging and mobile solutions are increasing rapidly, and we believe that the Bulgarian market will continue to grow strongly. Combining LINK and Voicecom’s innovative solutions should enable us to further strengthen our position in the Bulgarian market”.
Aabø-Evensen & Co Advokatfirma AS is acting as legal advisors to LINK in connection with the above mentioned transactions.
About LINK Mobility Group ASA
LINK Mobility Group ASA is one of Europe’s leading providers within mobile communications, specialized in mobile messaging services, mobile solutions and mobile data intelligence. The Group offers a wide range of scalable services and solutions across industries and sectors due to the growing demand of digital convergence between businesses and customers, platforms and users. The Group is headquartered in Oslo/Norway and is listed on the Oslo Stock Exchange (ISIN: NO0010219702). LINK Mobility continues to experience strong organic growth with a high degree of recurring revenue as customers tend to move more business activities onto the mobile platforms. In 2016, LINK Mobility had a total turnover of 924 million NOK with offices in Norway, Sweden, Denmark, Finland, Latvia, Estonia, Bulgaria, Germany and Spain.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.