Skiinfo sold to Vail Resorts
Press release from Vail Resorts, Inc.:
OnTheSnow to acquire Skiinfo, Europe’s most visited ski and snowboard website, to create the largest global media snow sports platform.
Mountain News Corporation, publisher of OnTheSnow, the world’s most visited snow sports online and mobile platform, is expanding its reach with the acquisition of Skiinfo, Europe’s most visited snow sports website. This acquisition will increase Mountain News Corporation’s reach in key European ski markets and creates a total audience of more than 23 million unique visitors per year. The combined companies will operate in 14 languages and 20 countries.
Established in 1996 in Oslo, Norway as a snow reporting website, Skiinfo.com expanded over the years adding offices in Germany, France, Italy and Slovakia, and has become the top ranked source for snow reports and snow sports information in Europe with an audience of 11 million unique users in 2011.
“This acquisition allows us to combine the dominant snow sports leader in North America with the leader in Europe to create the first ever, truly global snow sports media platform,” said Chad Dyer, global managing director of Mountain News Corporation. “With a combined 23 million unique visits per year, we will be able to offer advertisers access to skiing and snowboarding enthusiasts around the world — one of the most coveted demographics in media. The combined companies also will be able to offer skiers and riders the most comprehensive global snow sports content and most robust worldwide snow reports.”
According to Dyer, with the combination of OnTheSnow and Skiinfo’s snow reports, the new company will provide snow reports to more than 1,500 worldwide websites and international media companies, and will provide advertisers with an expanded reach and capabilities to reach skiers on a global scale.
The acquisition remains subject to certain conditions and is expected to close on February 1st, 2012.
About Mountain News Corporation
Mountain News Corporation (MNC), a subsidiary of Vail Resorts, Inc. (NYSE: MTN), is the publisher of OnTheSnow & the Ski Report mobile applications. MNC, is also a top provider of snow reports to more than 1,500 web sites throughout the world, including approximately 400 news media websites. In addition to its snow reports and website, OnTheSnow.com publishes and delivers a weekly e-mail newsletter to its database of more than 300,000 subscribers worldwide. MNC also operates MountainGetaway.com, the year-round headquarters for information regarding popular mountain resort communities and regions in the summer months.
About Vail Resorts
Vail Resorts, Inc., through its subsidiaries, is the leading mountain resort operator in the United States. The Company’s subsidiaries operate the mountain resorts of Vail, Beaver Creek, Breckenridge and Keystone in Colorado, and Heavenly and Northstar in the Lake Tahoe area of California and Nevada, and the Grand Teton Lodge Company in Jackson Hole, Wyoming. The Company’s subsidiary, RockResorts, a luxury resort hotel company, manages casually elegant properties. Vail Resorts Development Company is the real estate planning, development and construction subsidiary of Vail Resorts, Inc. Vail Resorts is a publicly held company traded on the New York Stock Exchange (NYSE: MTN). The Vail Resorts company website is www.vailresorts.com and consumer website is www.snow.com
Norspace sold to Kongsberg Gruppen
Press release from Norspace and Kongsberg Gruppen:
Kongsberg Defence & Aerospace AS, a wholly-owned company in the Kongsberg Group (KONGSBERG), has entered into an agreement to acquire 100% of the shares in Norspace AS.
Norspace was established in 2003 and is an extension of the former AME Space and Alcatel Space Norway. Norspace currently has 95 employees and is world-leading in its field of supplying high-tech components and equipment to the international space industry. The company participates in a number of international space programmes, and the company’s equipment is currently on board more than 140 satellites for customers all over the world.
As a subsidiary of Kongsberg Defence & Aerospace, Norspace will continue its business as present, and under the same management, while being able to benefit from important resources of a large industrial group with already significant presence in the space sector. Both buyer and seller consider that Norspace and KONGSBERG will mutually strengthen their growth potentials in the space sector because of the acquisition.
“Norspace will become part of a group with significant space activities, with a strong industrial and technological base and a very sound financial basis. The new ownership provides long-term assurance to our customers, suppliers and employees about Norspace’s future”, says Sverre Bisgaard, CEO of Norspace.
“KONGSBERG has had strong faith in space and surveillance for some time. The significant contracts we recently have landed confirm this faith. The acquisition of Norspace enables us to exploit each other’s expertise and market positions to grow and develop new products and markets. Both companies have demonstrated impressive development and ability to innovate in recent years, and we look forward to continue this progress and build new opportunities in a larger and more internationally robust company”, says Harald Ånnestad, CEO of Kongsberg Defence Systems.
Aspiro Mobile Solutions sold to LINK Mobility
Press release from Aspiro
Aspiro Sells Mobile Solutions – frees up resources for the fast growing music service WiMP and TV-streaming
Aspiro has signed an agreement with LINK Mobility AS on the sale of the business area Mobile Solutions in the Nordic and Baltic countries. Aspiro thus frees up additional resources for TV and music service WiMP, which before the summer passed 300,000 paying users, three times the amount in the beginning of the year.
The divestment of Mobile Solutions is the final step in a long term process to reposition Aspiro. In order to streamline the company in the direction of music and TV streaming, Aspiro in the last year also sold its former business area Mobile Entertainment and other small businesses. Music streaming service WiMP is the flagship of the new Aspiro, which now consists of business areas Music, TV and Mobile Search.
“Aspiro has a very aggressive growth strategy in the music and TV areas. Meanwhile, mobile business services also has great potential and we are sure that LINK Mobility is better positioned to lead the development of that market, where there are several mid-sized players and need for consolidation. This deal will free up more resources for our focus areas of music and TV, where we have high aspirations“, says Gunnar Sellæg, CEO of Aspiro.
Aspiro in Brief
Aspiro has unique positioning as the world’s only provider of both streaming music and TV services delivered as a complete hosted white label service to partners. Aspiro also delivers music streaming service WiMP directely to consumers in Scandinavia. Aspiro utilize over ten years mobile technology and retail experience, delivering its premium services to companies worldwide including Deutsche Telekom, Telefónica O2, Telenor, 3, TeliaSonera, BBC, Aftonbladet, mBlox, TVNorge, Entel and VG. Aspiro is listed on the Nasdaq OMX Stock Exchange in Stockholm. 2010 sales for continuing operations were SEK 262 m and the company has some 120 employees.
Farma Holding sold to Procuritas Capital Investors
Press release from Procuritas Capital Investors:
Procuritas Capital Investors IV LP acquires Faram Holding AS
PCI IV, together with the management team, acquires Farma Holding AS, a leading Norwegian supplier of pharmaceutical products and services to pharmacy chains, hospitals and the pharmaceutical industry.
The acquisition will take place through a newly established Norwegian holding company.
“We are very pleased about this investment” said Hans Wikse, Partner at Procuritas AB, advisor to PCI IV. “Under the current management team Farma Holding has grown to become a leading player in the Norwegian market and positioned itself to take advantage of the development on the Swedish and other export markets. The developments within the Nordic pharmacy markets provide a number of attractive opportunities for Farma Holding”.
The current Chairman of Farma Holding AS, Ralph Høibakk says: “It is good that a new owner now takes responsibility for the further development of the company. Farma Holding has growth opportunities that require access to more capital and management support than the current owners can contribute. This deal is good for customers, employees and other business partners”.
CEO Frode Lervik added “The Farma management team is excited about getting PCI IV in as a majority shareholder. The new owners share our Nordic growth aspirations and development objectives and will strengthen our financial position enabling us to reach our goals faster.”
About Farma Holding
Farma Holding group was founded in 1994 as one of several parallel import companies for pharmaceuticals and pharmacy products in Norway. Following the deregulation of the Norwegian pharmacy market in 2002, the company managed to position itself as a clear market leader. The company gradually broadened its business to diversify into branded products as well as supply of raw materials and services to the pharmaceutical industry and the pharmacies. The subsidiary Farma Helse was established in 2007, setting the foundation for branded products and with the acquisition of Apoteksproduksjon in 2008, Farma Holding established itself as a leading supplier of tested and controlled pharmaceutical raw materials to Norwegian pharmacies. This acquisition lifted the Raw Materials and Services division to a new level and set the foundation of the Farma Holding seen today; a company with around 60 employees and a turnover of c. 300 MNOK.
More information about Farma Holding can be found on www.farma-holding.com.
About Procuritas
Procuritas Capital Investors IV is a private equity fund focusing on mid-sized companies in the Nordic Region. Farma Holding is the ninth investment by PCI IV, and its third in Norway. PCI IV is advised by Procuritas AB and Procuritas Partners GmbH. Procuritas is specialized in initiating, structuring, and financing management buyouts. Founded in 1986, the company was the pioneer in introducing the concept of management buyouts in the Nordic region.
Dolphin Software sold to Via Venture Partners and Verdane Capital Advisors
Press release Via Venture Partners:
Strong Nordic focus with new owners
Norwegian company Dolphin, which delivers customer service systems and consultancy, has been acquired by Via Venture Partners and Verdane Capital VI & VII (Verdane). With new owners onboard, the company is poised forfor expansion in the Nordic market.
The sale of Dolphin was formalised on 4 August with the private equity funds Verdane and Via Venture Partners each taking out a 48 per cent stake in the company. The remaining four per cent shareholding is owned by the company’s management.
“Dolphin represents an extremely exciting investment for Verdane. The aim is to take this strong Norwegian company to the rest of the Nordic market. Since 1985 we have helped a significant number of Norwegian companies to establish themselves in new markets and are confident that Dolphin will enjoy considerable success in other countries,” comments Arne Simensen, Senior Associate at Verdane Capital Advisors’ Oslo office.
Jakob Rybak-Andersen, Partner at Danish-based Via Venture Partners explained:
“Dolphin is an exciting business in a small niche, with cutting-edge expertise, a highly accomplished management team and a strong position in Norway. We are looking forward to playing an active role on the board together with Verdane Capital and generating further growth, both organically and through consolidations in Norway and internationally.”
The team at Dolphin is also thrilled with the sale and the new owners:
“With their expertise and financial strength, Verdane Capital Advisors and Via Venture Partners will help us to further develop the company and position ourselves for further growth. We are delighted to welcome expert professional investors onboard as owners,” commented CEO Smeby.
In recent years Dolphin’s 30 employees have generated steady and healthy growth, and the company posted sales of NOK 48 million in 2010. Over the last year the portfolio has been expanded to include companies such as Sparebank 1 Alliansen, Eidsiva Energi and Viking Redningstjeneste.
Dolphin has several product launches in the pipeline, including “SocialCRM” a customer service solution for social media, a market Smeby believes is overdue for such a professional solution. The company is also launching a new customer service solution based on Microsoft Lync aimed at the SMB market, a move that represents a strategic expansion for the company that had previously concentrated on the high-end market.
Dolphin Software was established in 1989 as a publisher of Norsk Data. It was owned by Telenor from 1994 until 2003 when it was bought out by Finn Haadem, Arne Blystad and four of the company’s executive managers. Verdane purchased Blystad’s shareholding in 2009 and has now built its stake up to 48 per cent.
About Dolphin
Dolphin is a leading company in the contact center industry in Scandinavia. The company specializes in streamlining the interaction between voice and data systems. The company was established in 1989 and is in addition to being one of the leading contact center solutions and automated voice response solutions, competence center with specialized consultants. Dolphin sells directly in Norwegian market and through partners in Denmark and Sweden. Among the company’s customers are Telenor, TDC, DnB NOR, EDB ErgoGroup, Sparebanken Vest, Union, Post Office, Hafslund, Agder Energi, Terra and Kredinor.
About Verdane Capital Advisors
Verdane Capital Advisors has 25 years’ experience in the venture capital and private equity market as advisor to the Verdane Capital funds. The funds act as liquidity providers for owners of unlisted assets, primarily by acquiring portfolios of unlisted companies, but Verdane Capital funds also selectively invest directly in medium-sized individual companies. The committed capital in the funds advised stands at over €500m, with a total of over 100 holdings in four different funds. Verdane Capital Advisors has 21 professionals in offices in Helsinki, Oslo and Stockholm. Example investments include: BytHjul, Codenomicon, Liaison Technologies, Mathem, Resman, SmartMotor, Vector, Wireless Maingate and Åkerströms. Examples of earlier investments are Coding Technologies, Chipcon, DIBS, Nacre, Opera Software, Reslink and TradeDoubler. www.verdanecapital.com
About Via Venture Partners
Via Venture Partners has ATP as the only investor and is a leading multi-stage IT-venture fund with focus on investments in Nordic growth companies. Via Venture Partners has DKK 2 billion under management and currently has 14 portfolio companies in Denmark, Sweden, Norway and Finland. See also www.viaventurepartners.com
LOS Bynett and Bynett Privat sold to Telenor
Press release from Telenor:
Telenor acquires LOS Bynett and Bynett Privat
Telenor has reached an agreement with Agder Energi to acquire the fibre companies LOS Bynett AS and Bynett Privat AS.
- We are very satisfied that Telenor is taking over and developing the two companies’ broadband initiative in Vestfold and the Agder counties. This sale is in line with our group strategy, and we are confident that a more optimal development is thus secured for these enterprises in the time ahead, says Unni Farestveit, group director of markets in Agder Energi.
LOS Bynett builds fibre-optic high-speed networks for the corporate market and the public sector, while Bynett Privat supplies private households. All 23 employees in Vestfold and the Agder counties will keep their jobs.
- Telenor has stated that they want to invest in fibre development and that the employees of LOS Bynett and Bynett Privat are an important resource in these efforts, says Ms Farestveit.
- Telenor’s aim is to further develop these enterprises as part of Telenor’s fixed broadband activities in Norway. We have great faith in the region comprising the Agder counties and Vestfold, and Telenor has already established a regional office in Kristiansand and a security centre in Arendal. The strong local business community, population growth and strong purchasing power make this an attractive region, says Mr Ragnar Kårhus, CEO of Telenor Norway.
Telenor Norway, along with its subsidiary Canal Digital Kabel TV AS, is a major player in the broadband field, but currently mainly supplies services via DSL and coax technology (copper and cable). The acquisition of LOS Bynett and Bynett Privat strengthens Telenor’s position in the fibre market in an attractive part of the country. The enterprises have 9,600 private customers and approx. 900 corporate customers. Both these customer bases are of a high quality. The companies had revenues of NOK 89 million in 2010. The corporate customer base accounted for almost 50 per cent of the revenue.
- Los Bynett and Bynett Privat will carry on with the same management and range of services as today. In a more long-term perspective we will consider integration of the companies with our other businesses and services, says Mr Kårhus.
The price to be paid for the two companies is NOK 300 million. The acquisition is contingent on approval from the Norwegian Competition Authority
Private placement in Fitness Group Nordic (EVO)
Steinvender advised Fitness Group Nordic in a private placement in the company. Fitness Group Nordic is the owner and operator of the EVO fitness centers.
Private placement in Front Exploration
Press release from Troms Kraft AS:
Front Exploration AS has completed a private placement of NOK 75 million with the Danish energy company DONG E&P Norge AS.
The investment is matured through discussions between Troms Kraft AS and Dong Energy AS in connection with DONG Energy’s sale of shares in Nordkraft AS and Salten Kraftsamband AS.DONG E&P Norge AS ownership is at 12,8 percent, and is the third largest shareholder in Front Exploration AS. Front Exploration is valued at NOK 510 million before the share issue.
“It is very satisfying that DONG E&P Norge AS becomes an owner in Front Exploration AS. For the Board and current owners, it has been important to find a long-term industrial owner”, says Chairman of the Board in Front Exploration AS, Tor Lægreid.
“This will result in a new and exciting phase for Front Exploration AS. We’ll gain important capital and industrial expertise, which will enable us to increase our efforts in the petroleum sector in the High North”, says CEO of Front Exploration AS, Yngve Vassmyr.
Front Exploration AS has 12 licenses on the Norwegian Continental Shelf and will participate in several exploration wells with high probability of success. The first exploration well will be drilled in autumn 2011 on the “Heilo” prospect that is located between the Goliat and the Nucula oil discoveries. Both Goliat and Nucula are situated outside the coast of Finnmark. The Company has offices in Tromsø, and has 20 employees. The Company is owned by Sparebanken Nord-Norge Invest AS (40,7 percent), Troms Kraft Invest AS (39,4 percent) and DONG E&P Norge AS (12,8 percent).
