CLX COMMUNICATIONS AB (publ) places a binding offer to acquire Sinch AB
December 09 2016 - 2:00AM
Stockholm, Sweden - CLX
Communications AB (publ) ("CLX") - NASDAQ: XSTO:CLX - a leading
global provider of cloud-based communication services, announces
that it has submitted a binding offer for the acquisition of all
shares in Sinch AB ("Sinch"). The offer has
been accepted by the shareholder of Sinch and the parties are
entering into negotations with a view of signing a definitive
agreement.
The offer corresponds to a valuation of Sinch at
an enterprise value totaling SEK 130 million, with payment partly
in CLX shares and partly in cash through certain of Sinch's loans
being repaid by CLX. As part of the offer CLX has offered Sinch a
loan of SEK 10 million of the purchase price through a convertible
to assure access to working capital.
"CLX was founded on a vision to become the world's
largest and leading player in the market for mobile cloud-based
communications. Following the IPO of fall last year, the summer's
acquisition of Mblox was the first of several important steps
toward that objective. A successful acquisition of Sinch would be a
natural next, but not the final, step in our development and
growth," says Johan Hedberg, President and CEO, CLX
Communications.
"Like most observers, we are convinced that the
majority of future communications will move to the cloud. CLX is
already one of the leading suppliers of products and services that
companies around the world need to build the flexible and efficient
communication solutions of the future. Sinch is a good complement
to our existing offering. A successful acquisition would enhance
our position as the leading provider of communication solutions to
businesses worldwide, including internet-based voice
communications," concludes Johan Hedberg.
CLX will provide further information if a final
agreement for the acquisition is completed. CLX's ambition is for
the closing of the transaction to occur not later than 31 December
2016.
For further information please
contact
Thomas Ahlerup
Chief Investor Relations Officer
CLX Communications AB (publ.)
Mobile
+46 768 966 300
E-mail
thomas.ahlerup@clxcommunications.com
About Sinch
Sinch is a Swedish company. Sinch was founded in
2014 when Rebtel AB decided to place its technology, platform and
operations in a separate company. As early as in 2014, Sinch saw
significant growth opportunities in cloud-based communication
services, and since its launch Sinch has successfully become a
supplier to a number of leading app and web companies, mainly on
the West Coast of the United States.
About CLX Communications
CLX Communications (CLX) is a leading global
provider of cloud-based communication services and solutions to
enterprises and mobile operators. CLX's mobile communication
services enable companies to quickly, securely and cost-effectively
communicate globally with customers and connected devices -
Internet of Things (IoT).
CLX's solutions enable business-critical
communications worldwide via mobile messaging services (SMS), voice
services and mobile connectivity services for the IoT. CLX has
grown profitably since the company was founded. The Group is
headquartered in Stockholm, Sweden, and has presence in a further
20 countries.
CLX Communications' shares are traded at NASDAQ
Stockholm: XSTO:CLX.
To learn more please visit:
www.clxcommunications.com
Disclaimer: Every care has been taken in the
translation of this press release. In the event of discrepancies,
however, the Swedish original will supersede the English
translation.
This information is information that CLX
Communications AB (publ) is obliged to make public pursuant to the
EU market abuse regulation. The information was submitted for
publication under the auspices of the above contact on 9 December
2016 at [08:00] CET.
161209 CLX Binding bid for
Sinch_ENG_FINAL1
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: CLX Communications AB (publ) via
Globenewswire
Clorox (NYSE:CLX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Clorox (NYSE:CLX)
Historical Stock Chart
From Apr 2023 to Apr 2024