Aspiro Completes Mobile Solutions Sale

Aspiro has completed the sale of its Mobile Solutions business in the Nordic and Baltic countries to LINK Mobility for NOK 20m (£2.3m). LINK will pay NOK 7.5m on closing the deal, a further NOK 7.5m, adjusted for any guarantees after nine months, with the remaining NOK 5m paid off quarterly as a share of the buyers operating results. The divestment frees up resources for Aspiros WiMP music service, and TV and video streaming services. Mobile Solutions’s sales in 2010 amounted to SEK 131.2 million (£12.6m), and in the first half of 2011, to SEK 50.3m.

Aspiros Music business division has increased its sales by over 175 per cent in the first half of 2011. The companys music streaming service passed 300,000 paying users in June, a threefold increase since January. The service is available in Norway, Sweden, Denmark and Portugal, and Aspiro has signed a letter of intent to launch in Ireland. The company is negotiating with new partners in both music and television and is planning further new launches in 2011.