LINK has acquired ViaNett AS together with its subsidiary Sendega AS in a transaction whereof approximately 99.88% of the shares were purchased from TargetEveryOne AB, a Swedish public company listed on Nasdaq Stockholm First North, and whereof the remaining 0.12% of the shares have been acquired through a compulsory acquisition for cash only from the remaining minority share.
ViaNett AS was established in 1998, and acquired Sendega AS in 2014. ViaNett has a total of 1,100 customers in Norway and Sweden. ViaNett/Sendega has experienced solid growth during the last years.
As part of the transaction, LINK will get the exclusive right to provide SMS gateway services to TargetEveryOne and its partners for a period of 4 years.
With this acquisition, LINK will strengthen its position in the Norwegian and Swedish markets, broaden its range of mobile solutions services and increase its innovative capacity. “LINK will have a total of 7,400 enterprise customers that will all be offered attractive multi-messaging and mobile solutions to assist them in the interaction with their customers" says Arild E. Hustad, CEO of LINK.
The acquisition was completed based on an agreed enterprise value of approximately NOK 87.18 million (100% basis), reflecting an adjusted estimated EBITDA for ViaNett in 2017 of NOK 15.85 million multiplied by a factor of 5.5, and the transaction with TargetEveryOne was settled by payment of 1/3 in cash, 1/3 in seller’s credit and 1/3 in shares in LINK.
Aabø-Evensen & Co is acting as legal advisor to LINK Mobility Group ASA.
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