LINK Mobility Group AS Strengthen its Position in South-Eastern Europe

LINK Mobility Group ASA, strengthen its position in the South-Eastern European market by acquiring the Teracomm Group

OSLO, Norway, July 29, 2019 /PRNewswire/ -- LINK Mobility Group AS ("LINK"), Europe's leading and fastest growing provider of B2C mobile messaging and mobile services, has today closed the transaction with the eastern European mobile messaging and solutions companies Tera Communications AD and TeraVoice EAD and their subsidiaries, ALLTERPAY EOOD, TERACOMM RO SRL, TERA COMMUNICATIONS DOOEL, operating under the name TeraComm ("TeraComm").

TeraComm has activities and employees in Bulgaria, Romania and North Macedonia, and LINK is taking over all 45 employees in the 5 entities acquired.

"I am really happy to announce that we have now closed the transaction with the Teracomm Companies. This is LINK's second investment in South-Eastern Europe and the fit between Voicecom and the Teracomm Companies is very good. We will now have a solid platform to develop and grow LINK further in the region through our strong sales focus and innovation of mobile messaging and solutions services. The South-Eastern European market is experiencing strong underlying growth and we really look forward to taking a big slice of this growth going forward", says Thomas Berge of LINK.

"Based on our attitude to offer our clients the best technical solutions and thanks to our team of professionals, the Teracomm Companies have become reliable business partners and have conquered stable positions in the market of mobile services. The sustainable growth in the recent years has paid back. However, based on the results of the IoT business and the interest of the investors in this field, at this point of time, the sale of the European part of our telecommunication business is assessed as an opportunity to change the focal point of ALLTERCO's business and to concentrate our resources fully on the development of IoT products and services", says Dimitar Dimitrov, CEO of ALLTERCO

Aaboe Evensen & Co (Oslo), Paul Hastings LLP (London) and Boyanov (Sofia) has acted as legal advisors, while BDO has acted as financial advisors to LINK Mobility Group AS during the transaction.

CONTACT:

For further information, please contact:

Thomas Berge, CEO/CFO
LINK Mobility Group AS
thomas.berge@linkmobility.com
Mob: +47-41-31-90-28

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