Follows pattern of local regional acquisitions
Rapidly expanding mobile messaging group LINK Mobility is acquiring the Teracomm group of companies which trade in South-Eastern Europe.
The agreed enterprise value of the transaction is €8.8m. The Teracomm companies, which service both enterprises and partners across Bulgaria, Romania and Macedonia, expect to report revenues for 2017 of €11.9m. LINK acquired mobile messaging firm Voicecom of Bulgaria last autumn for just under €4m.
Arild Hustad, CEO of LINK, said: “This is our 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. 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."
The Teracomm companies are owned by Bulgaria-headquartered communications solutions group Allterco, whose CEO Dimitar Dimitrov, said: "The sale of the European part of our telecommunications business is assessed as an opportunity to change the focal point of Allterco to concentrate our resources fully on the development of IoT products [including wearables] and services."
The transaction is expected to close by the end of April this year, said LINK. In the last few months, LINK has acquired Austrian, Swiss and Italian firms in the mobile messaging space.
