LINK Mobility Group ASA completed the acquisition of 100% of the voting equity instruments of Horisen Messaging, a Swiss-based subsidiary carved out from HORISEN AG. The acquisition was a strategic move by LINK Mobility to consolidate its position in the European mobile messaging market. By acquiring Horisen Messaging, LINK Mobility secured a dominant market position in Switzerland, holding over 30% of the market share, and gained access to a valuable international messaging network. For the seller (HORISEN AG), the divestiture served as a corporate restructuring to separate the operational SMS trading business from its core software technology platform, allowing the parent company to pivot to a "pure product house" model while maintaining a commercial relationship as a technology vendor to LINK Mobility.

HORISEN MESSAGING, which reported an EBITDA margin of LOGIN in 2018, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level around LOGIN lower than the average currently observed in the TMT (Tech, Media, Telecom) sector (12.8x).

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