Nordic Business Report-September 29, 2006-Aspiro AB acquires Rubberduck Media Lab Ltd
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The Swedish mobile content services distributor Aspiro AB said on Friday (29 September) that it has acquired Norwegian mobile TV, video and radio solutions supplier Rubberduck Media Lab Ltd.
The purchase consideration comprises a fixed cash payment of SEK25.2m and additional payments of up to SEK9m based on future performance.
The acquisition is part of Aspiro's mobile TV initiative.
"From Day One, Aspiro will have one of the market's pre-eminent mobile TV, video and radio solutions for download and streaming. The acquisition also brings a number of significant partners and customers in mobile TV such as Telenor, NRK, MTV Nordic, the BBC and Fox Movies," Aspiro said.
Rubberduck Media Lab, based in Oslo, has nine employees and reported revenues of SEK2.8m in 2005. Aspiro said that it expects sales to increase to SEK30m in 2009.
One Swedish krona (SEK) is worth approximately 0.07 British pounds (GBP).
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