The North American venture capital fund, Abry Partners has launched a takeover bid on LINK Mobility Group, impressed by the excellent market position that has been achieved. Abry has made a voluntary cash offer of 225.00 Norwegian kroner (NOK) per share issued and in circulation, valuing LINK Mobility’s total social capital at approximately 3,396 million Norwegian kroner, equivalent to 357 million euros.
Thanks to this transaction agreement, LINK Mobility has received a big boost to its on-going growth and has gone from being a European leader in mobile solutions, to being able to operate on a larger scale and compete at the global level.
LINK Mobility Group has been a listed company for almost 5 years, during which time it has grown significantly, providing attractive returns to its shareholders.
Now, with Abry’s support and solid track record of investment in similar businesses, new horizons are opening for LINK. Furthermore, Abry has extensive international experience in investment in media and in the service industry in North America and Europe. It currently manages more than $5,000 million of capital in its active funds.
In the words of Jens Rugseth, Chairman of the Board of Directors of LINK Mobility: “This is a positive offer for LINK Mobility and its stakeholders. It is a natural next step for us, allowing us to further develop the company. Abry will be well positioned to take the business even further on the foundations that we have built.”
With regard to the Spanish market, new and promising paths are also opening up, as explained by the CEO of LINK Mobility in Spain, Carlos Cadenas: “The push that a North American fund can provide is very important because much of the traffic is generated there. This can lead to synergies and new business opportunities, especially for the Spanish market, where we will be able to offer even more possibilities to Spanish companies”.