LINK Mobility Group ASA ("LINK") has entered into a term sheet agreement regarding the acquisitions of Italian mobile messaging company Archynet s.r.l. ("Totalconnect").
Totalconnect was established in 1998, and is located in Turin in Italy. Totalconnect has a strong position in the Italian market with direct interconnect with the Italian mobile operators. It is one of the leading mobile messaging and marketing providers in Italy and has launched many new services within this space over the last years.
The purchase price is based on an estimated enterprise value of EUR 2.475 million and will be settled partly in cash, seller’s credit and shares in LINK upon closing.
"I am glad to announce that we have taken our first step into the Italian market through the acquisition of Totalconnect. This is one of the pioneers within mobile messaging in Italy and has as strong customer base of more than 600 enterprise customers. Italy is an exciting market for LINK going forward, and I am sure that we will see large opportunities from introducing some of our more advanced mobile messaging and solution services. We will naturally look for additional opportunities in Italy to ensure that we reach our 40% market share ambition in this large and growing European market." says Arild E. Hustad, CEO of LINK.
Aabø-Evensen & Co is acting as legal advisor to LINK.
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