TV and music streaming services business Aspiro has sold its remaining Mobile Entertainment business in Finland to Exsol Oy. The initial purchase price is €100,000, plus an earn-out which should give Aspiro a minimum of €200,000 euros over a two year period. The earn-out model is based on 15% percent of the pay-outs from the operators. Net sales for the Mobile Entertainment business in Finland from January-September 2010 was about 7.5 million SEK. Earnings after direct expenses for the same period were approximately 1.8 million SEK and EBITDA of minus 0.7 million SEK.
“We are streamlining our operations and focusing mainly on streaming services in music, television and video, as well as business solutions in the Mobile Solutions area. We see very high growth potential in the future and it is therefore positive that we can focus even more on our core business, “says Aspiro’s CEO Gunnar Sellæg.
Aspiro delivers services to partners worldwide like T-Mobile, Telefónica O2, Telenor, 3, TeliaSonera, Tele2, the BBC, Aftonbladet, mBlox, TVNorge, Entel and VG. Aspiro is listed on Nasdaq OMX Nordic Exchange Stockholm and has a local presence in all the Nordic and Baltic countries. Sales for continuing operations in 2009 were SEK 249 m and the company has some 115 employees.