LINK Mobility Group ASA ("LINK") has completed the acquisition of the Spanish Didimo-JetTelecom Group (Didimo).
LINK has completed the acquisition of Didimo by acquisition of all shares in the parent company Didimo Servicios Móviles SL. In connection with the acquisition, LINK has issued 155,769 new shares to the sellers of Didimo as part of the consideration for Didimo.
Didimo was established in 2010 and has 8 employees based in Madrid in Spain. Didimo is expecting to report a 2016 revenue of EUR 8.9 million and an EBITDA of EUR 1.22 million. Didimo has a solid customer portfolio of large companies and SMEs. The company has a strong relationship with the telecom operators; it has direct connections to all the main operators in the Spanish market, and is running the solutions portfolio for Orange and Telefonica in Spain.
"This is another milestone for the development of LINK into the leading mobile messaging and solution company in Europe, and our first step into South Europe. The Spanish market is under strong development and growth, and we view it as very attractive. Our ambition is to continue to drive consolidation in this market the same way that we have driven consolidation in the Nordic markets. We will strongly benefit from the good position Didimo has in the Spanish market, and plan to capitalise on this position with additional innovative mobile solutions in the future" says Arild E. Hustad, CEO of LINK.
Aabø-Evensen & Co Advokatfirma AS is acting as legal advisor to LINK.
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