Link Mobility, the Norwegian telecommunications and IT company, has acquired the Spanish mobile messaging company Didimo. The transaction, valued at €18 million, also includes the business of Didimo's subsidiary Jet Telecom and Global Messaging Solutions (GMS).
About Link Mobility
Link Mobility is a Norwegian group listed on the Oslo Stock Exchange. Founded in 1998, Link Mobility is a leading Norwegian developer of mobile solutions for businesses, and one of Europe's leading groups in this sector. The company achieved a turnover of close to €70M in 2016, a year in which it realised a total of 5 mergers and acquisitions in Northern Europe.
Its mobile solutions for enterprises include SMS messaging integration services with IT systems, mobile payment systems, web solutions for SMS-based business-to-customer communication, and database management and registration solutions. The group has more than 400 established customers in many different sectors: transport, insurance, travel, real estate, media, energy, retail and healthcare.
LINK Mobility has a team of 230 employees in 8 countries (Norway, Sweden, Denmark, Germany, Finland, Latvia, Estonia and Spain) and has a large market share in the mobile solutions sector.
Link Mobility's M&A operations
Since 2014, Link Mobility has carried out a total of 12 mergers and acquisitions of companies with a total value of 600 million kronor (€66 million). These companies are characterised by important players in the telecommunications sector, such as Aspiro, Intouch, PSWinCom, Fivestarday, CoolSMS, Didimo and Jet Telecom. These operations have contributed to a large increase in their market share and have further diversified and extended their portfolio of mobile solutions.
Link Mobility buys Didimo and Jet Telecom
Link Mobility has acquired 100% of the share capital of Spanish mobile messaging company Didimo for NOK 169 million (approximately €18 million). The transaction comprises the purchase of the Spanish Global Messaging Solutions (GMS) for €11M, and JetTelecom Group (a subsidiary of Didimo) for €7M.
The purchase has been completed under the terms agreed in the term sheet: 1/3 of the price paid in cash at closing, 1/3 of the price in Link Mobility shares and 1/3 of the price in a loan receivable by the sellers in 3 years.
Didimo is a leading Spanish company specialising in the development of B2C mobile messaging solutions. Founded in 2010 and headquartered in Madrid, the company achieved a turnover of €9M in 2016, and an EBITDA of around €1.3M. In July 2015 Didimo completed the acquisition of Jet Telecom, creating a group with a monthly average of more than 40 million messages sent.
Link Mobility's interest in Didimo lies in its highly technological profile and its good relationship with the most important mobile operators in Spain, while its focus on the sale of GMS stands out. With this operation, Link Mobility aims to capture a high percentage of the Spanish market and approach the 40% of local market share that it usually targets in the countries in which it operates.
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