Aspiro has sold its Mobile Entertainment operation, which covers ringtones, games and graphics, to Lobus Mobil AB. Aspiro notes that in recent years, the market trend for mobile entertainment services has been downward, and adds that there is also a significant risk that additional market regulation may adversely affect the prospects of running the business. Accordingly, in addition to the purchase price, Aspiro has chosen to apply an earn-out model, which potentially, may bring the company a higher purchase price if the current valuation proves overly low.

“This divestment of Mobile Entertainment is a natural result of our strategy of focusing our investments on the WiMP music service, TV streaming for mobiles and computers, and on business solutions,” says Aspiro CEO, Gunnar Sellæg. The fact that the sale of Mobile Entertainment is concluded is a clear marker of our transition from the old to the new Aspiro.”

Sales of Aspiro’s services in its Music and Mobile TV business segments rose by 74 per cent last year. The company’s premium services have also gained international recognition, including two nominations for the international Meffy award, for its WiMP music streaming service and the mobile TV services the company delivers to T-Mobile.

“Our future lies in the music, mobile TV and business solutions business segments, and we see high growth potential on the Nordic and global markets in these segments,” says Sellæg. We already supply major multinationals like T-Mobile, Telefónica O2 and Telenor, and expect to be able to post high growth in these segments going forward.”

Excluding Mobile Entertainment in Norway, Sweden and Denmark, Aspiro’s net sales in 2009 were were SEK 275.3m (£23.6m), 12 per cent up on the 2008 figure of SEK 245.3m.