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01/2018100%

Horisen Messaging acquired by Link Mobility

SWITZERLAND Software / MarTech EV €0–15M

Context

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 [members only] in 2018, is valued in this transaction at an EV/EBITDA multiple of 5x–12x, to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.6x in 2026).

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

Horisen Messaging is a leading mobile messaging provider in Switzerland, specializing in high-volume, enterprise-grade text messaging services. The company maintains a significant market presence, leveraging a robust international network to facilitate wholesale bulk messaging traffic. Its business model is predicated on providing reliable, high-quality connectivity for both large-scale retail clients and wholesale partners, ensuring seamless delivery across complex global telecommunications infrastructure. The firm’s value proposition is built upon technical reliability and extensive expertise in telecom operations and mobile marketing. By handling high-quality, responsive traffic, the company has established itself as an essential partner for organizations requiring dependable communication solutions.

Ent. Value

€0–15M

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

5x–12x

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2018
[members only]
€0–5M
[members only]
2017
[members only]
€0–5M
[members only]

Other operations with Link Mobility

Other operations with Link Mobility
DateAcquirerTargetCountrySector
06/2021LINK MOBILITYMESSAGE BROADCASTUNITED STATESMarTech
10/2018ABRY PARTNERSLINK MOBILITYNORWAYMarTech
02/2018LINK MOBILITYTERACOMMBULGARIAMarTech
01/2018LINK MOBILITYTOTALCONNECTITALYMarTech
01/2018LINK MOBILITYSMS ITALIAITALYOperators

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06/2017HG CAPITAL / GIC / MONTAGU PRIVATE EQUITY / ICGVISMA GROUPNORWAYERP, HR & Finance
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07/2016ARDIANDEDALUSITALYHealthcare
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REFERENCES

Valuation range: EV €0–15M

EBITDA range: €0–5M

EV/EBITDA range: 5x - 12x

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Horisen Messaging by Link Mobility are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Target: horisen messaging

Acquirer: link mobility

FAQ

What transaction does this page cover?

This page covers Link Mobility’s acquisition of 100% of Horisen Messaging, a Swiss company specialised in MarTech, in 2018.

How was the acquisition of Horisen Messaging by Link Mobility valued, and what multiples were paid?

mynth displays the transaction’s enterprise value within the €0–15M band and its EV/EBITDA multiple within the 5x - 12x range. Exact figures are available to members.

What was Horisen Messaging’s EBITDA at the time of the deal?

At the time of the transaction, Horisen Messaging’s EBITDA was estimated within the €0–5M bracket (FY 2018). Detailed financial figures are available to members.

How does the valuation of Horisen Messaging compare to benchmarks in the TMT (Tech, Media, Telecom) sector?

With an estimated valuation multiple in the range of 5x - 12x in 2018, the transaction reflects historical valuation standards. By way of comparison, in 2026 companies in the TMT (Tech, Media, Telecom) sector are valued at a multiple of 14.6x EBITDA.

What sources support the information on this transaction?

Information on this transaction is sourced from the official corporate announcement published by the parties, corroborated by a private document shared by the community and verified by the mynth team to ensure the accuracy of the shared information.

What is mynth?

mynth is the first free M&A database dedicated to Small & Mid-Cap transactions. We centralize Enterprise Values, revenue multiples, EBITDA multiples and transaction financials that are typically locked behind five-figure subscriptions on platforms like Capital IQ or Mergermarket. On mynth, searching and browsing deals is completely free. Our mission is simple: make professional-grade valuation intelligence accessible to every M&A advisor, independent consultant, Private Equity professional and student, without the burden of expensive annual licenses.