Acquisitions are an important part of the Norwegian IT company Link Mobility’s growth strategy. The acquisition of Austrian WebSMS will probably provide synergies of more than NOK 6 million as early as next year.
Published:Published: November 16, 2020 5:45 PM
Link Mobility, which is a provider of mobile solutions, buys Austrian WebSMS for 50.9 million euros, equivalent to 546 million kroner, according to a stock exchange release.
WebSMS has an MNO license in Austria and a market leader there, but also has significant operations in Germany and Switzerland, the company writes.
On a preliminary basis, Link Mobility expects synergies (gains from the merger) of 0.6 million euros (6.4 million kroner) in the income year 2021.
WebSMS has 24 employees in Austria and had a profit before tax of 6.8 million euros in the twelve months to 30 June 2020.
The purchase price consists of 60 per cent cash, while 30 per cent consists of 3.5 million new shares in Link Mobility at a price of 47.00 per share. It is identical to the price of the new shares that were issued in connection with the stock exchange comeback in October.
Acquisitions will continue to be an important part of the company’s international growth strategy, and the company reiterates that it is actively looking at more acquisition opportunities in the short term.
Link Mobility’s comeback on the Stock Exchange took place exactly two years after American Abry Partners bought the IT company from the stock exchange for NOK 3.4 billion.
With the current share price of NOK 55.40, the company now has a market value of NOK 14.8 billion.
AGP Advokater AS, EY Law and EY Austria have provided Link Mobility’s legal and financial assistance in connection with the acquisition.
Link Mobility was founded by Jens Rugseth and Rune Syversen. They started with solutions for one-way text messaging for companies, but have gradually established themselves as a mobile technology platform that offers omnichannel messaging for physical sales and online sales.
The stock exchange announcement can be found here
Read also: Link Mobility rises in stock market comeback – valued at over 14 billion
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