Signing Completed in Connection With Acquisition of Totalconnect in Italy

Totalconnect was established in 1998, and is located in Turin in Italy. Totalconnect has a strong position in the Italian mobile messaging 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 attractive new services within this space over the last years.

LINK has today signed a final Share and Purchase agreement for the acquisition of all the shares in Totalconnect from the seller Claudio Gioiosa. The acquisition is based on an agreed enterprise value of EUR 2,475 million on a cash-free and debt-free basis. The enterprise value is based on an estimated EBITDA for 2017 of EUR 0,450 million multiplied by a factor of 5.5. The Totalconnect business expects to generate pro forma revenues of approximately EUR 2 million, in 2017.

LINK has a solid cash position consisting from a strong cash flow from its operations and the successful tap of EURO 30 million from the LINK bond facility totalling EURO 175 (of which a total of EURO 80 million has been tapped), the cash part of the transaction will thus be fully financed through LINK´s corporate funds.

The transaction will be closed on 31st January, 2018 and settled as follows:

1/3 cash on closing

1/3 sellers credit

1/3 shares in LINK.

Aabø-Evensen & Co Advokatfirma AS and DLAPiper Italy is acting as legal advisors to LINK in connection with the above mentioned transactions.

For further information, please contact:

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

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http://news.cision.com/link-mobility-group-asa/r/signing-completed-in-connection-with-aqcuisition-of-totalconnect-in-italy,c2419887

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