An Unknown buyer entered into a definitive agreement to acquire Message Broadcast, LLC from LINK Mobility Group Holding ASA (OB:LINK) for $260 million.

An Unknown buyer entered into a definitive agreement to acquire Message Broadcast, LLC from LINK Mobility Group Holding ASA (OB:LINK) for $260 million on November 7, 2023. Under the terms of the transaction, Message Broadcast is divested at an enterprise value of $260 million, implying a LTM Q3 23 EV / EBITDA multiple of 14.1x. The purchase price will be paid $220 million in cash at close, a $10 million seller note with a cash interest of 5% p.a. maturing in the summer of 2025 and a $30 million cash earnout based on Message Broadcast?s 2024 performance.

The earnout is linear from $7.5 million and increasing with revenue growth. The agreement is subject to customary closing conditions and is expected to close before year-end or early next year. AGP Advokater (Norway) and Paul Hastings LLP (US) acted as legal advisors to LINK in connection with the transaction.