Le Lézard
Classified in: Science and technology, Business
Subject: TNM

LINK Mobility Signs Term Sheet Regarding Acquisition of SeeMe in Hungary


OSLO, Norway, April 17, 2018 /PRNewswire/ -- LINK Mobility Group ASA ("LINK"), Europe's leading and one of the fastest growing providers of cloud based mobile messaging and mobile solutions services, has entered into a term sheet regarding the acquisition of the Hungarian mobile messaging company Dream Interactive Ltd. (operating under the name SeeMe "SeeMe")

SeeMe (a service of Dream Interactive Kft.) was established in 2004 and is located in Budapest, Hungary. SeeMe has a strong position in the Hungarian market with direct connetions to all mobile operators and is recognized as the market leader within the SMB market with its web and API based messaging services.

"I am glad to announce that we have taken our first step into the Hungarian market through the acquisition of SeeMe. Hungary is an exciting market for LINK going forward and represents great opportunity for LINK to continue its growth in the Central European Markets. LINK will expand its offering to the Hungarian market with a broad range of state of the art mobile messaging and solutions services" says Arild E. Hustad, CEO of LINK.

"We are happy to join forces with Link Mobility as the messaging market is maturing and consolidating, but on the other side has a great potential for further growth. As technologies advance, B2C messaging will see a lot of new solutions for better user experience in the coming years for which Link's consolidated approach makes great sense." says Andras Pfaff, CEO of Dream Interactive Ltd.

The agreed enterprise value of the transaction is EUR 2 million, on a cash-free and debt-free basis and assuming a normalized level of working capital. The enterprise value is based on an adjusted EBITDA of EUR 0,327 multiplied by a factor of 6.

The purchase price under the transaction will, subject to customary adjustments, expected to be settled as follows:

- 1/3 of the purchase price in cash upon closing,

- 1/3 of the purchase price as sellers' credit to be paid no later than 24 months from closing. Interest of 4.75% per annum is to be paid in quarterly arrears, and

- 1/3 of the purchase price of shares in LINK valued at the share price at the Oslo Stock Exchange today.

LINK intends to acquire all shares in Dream Interactive Ltd from the sellers Andras Pfaff and Pal Simon and the acquisition is conditional upon a satisfactory result of a due diligence process to be performed by LINK, and upon LINK and the seller agreeing on the terms and conditions of a final share purchase agreement for the consummation of the transaction, containing, inter alia, customary closing conditions. The acquisition is furthermore subject to approval of the Board of Directors of LINK.

The transaction is expected to close on or about 30 of May 2018.

For further information, please contact:
Arild Hustad,
CEO
LINK Mobility Group ASA
[email protected]
Mob: +47-95-24-19-30

This information was brought to you by Cision http://news.cision.com

http://news.cision.com/link-mobility-group-asa/r/link-mobility-signs-term-sheet-regarding-acquisition-of-seeme-in-hungary,c2496678

The following files are available for download:

http://mb.cision.com/Main/8551/2496678/823381.pdf

PDF

http://news.cision.com/link-mobility-group-asa/i/seeme-logo,c2388297

seeme logo

http://news.cision.com/link-mobility-group-asa/i/link-mobility-logo,c2388298

LINK Mobility Logo


These press releases may also interest you

at 14:28
Nuventive, the data-informed improvement companytm, today announced a partnership with D2L, a global learning technology company, to simplify student outcomes analysis and advancement. By linking reports from the D2L Brightspace learning management...

at 14:26
IgniteTech, the AI Enterprise Software Company, today announced the launch of Jive Personas. This pioneering new feature utilizes the power of Generative AI to create role-specific knowledge based personas, delivering information in the form of...

at 14:25
Regulatory News: POXEL SA (Euronext: POXEL - FR0012432516), a clinical stage biopharmaceutical company developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including non-alcoholic steatohepatitis (NASH) and...

at 14:20
Mishe (say "mish-e"), an innovator in direct healthcare, announces the launch of Downstate's Transparent Access Plan, making SUNY Downstate Health Sciences University the first hospital system in the US to offer transparent upfront pricing for its...

at 14:19
Sharp Imaging and Information Company of America (Sharp), a division of Sharp Electronics Corporation (SEC), today announced that industry veteran, Dino Pagliarello, has joined Sharp as the new Vice President of Product Management and Production...

at 14:15
The "Poland Gift Card and Incentive Card Market Intelligence and Future Growth Dynamics (Databook) - Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering. The Polish gift card market demonstrates robust growth trends, with an...



News published on and distributed by: