Stockholm, Sweden - CLX Communications AB (publ.)
- XSTO:CLX
CLX Communications, a leading global provider of
cloud-based communication services, announces that it has acquired
the German technology company Xura Secure Communications GmbH, a
subsidiary of Xura Inc.
"CLX was founded on a vision to become the world's
largest and leading player in the market for mobile cloud-based
communications, with solutions for text, voice and Internet of
Things - IOT. Following the IPO in October 2015, the acquisitions
in 2016 of Mblox and Sinch AB, and now the acquisition of Xura
Secure Communications GmbH, were strategic steps in achieving that
vision," says Johan Hedberg, President and CEO, CLX
Communications.
CLX's strategy is to build a leading global market
position through acquisition, and following the two acquisitions
last year, it has quickly become a major power in cloud-based
communications. In addition, CLX's strong customer base consists of
many leading brands and enterprises, in industries that
collectively represent a very exciting opportunity for further
growth.
"Through the acquisition of Xura Secure
Communications GmbH we bring further value to our customers by
offering market-leading security solutions," concludes Johan
Hedberg.
Background and rationale for the
acquisition of Xura Secure Communications GmbH
The market for communication between companies'
business-critical applications and customers (A2P) is growing very
strongly, irrespective of whether this uses text messaging,
voice-based solutions or the Internet of Things - IOT. Even before
its market listing in 2015, CLX had a clear strategy to take a
leading role in the consolidation of a fragmented market. The
acquisitions of Mblox, Sinch and now Xura Secure Communications are
clear evidence that CLX is delivering on this strategy.
Since it's launch, Xura Secure
Communications GmbH has succeeded in building a strong market
position and today has a market share of over 30 percent in
Germany. Through the acquisition of Xura Secure Communications
GmbH, the Enterprise Division of CLX Communications has
strengthened its considerable presence in Germany.
Xura Secure Communications GmbH also has a strong
position in banking, logistics and aviation, and has for a number
of years delivered services such as secure login for online banks,
notifications for logistics companies and check-in for
airlines.
The transaction
Price
CLX is acquiring Xura Secure Communications GmbH
at a price of USD 15.5 million (equivalent to approximately SEK 138
million) on a cash- and debt-free basis. The purchase price is
being paid in cash in connection with the shares being made
available.
Furthermore, an additional consideration of USD
1.5 million (equivalent to approximately SEK 13.4 million) can be
payable conditional on reaching set targets relating to the outcome
of Xura Secure Communications gross profit in the current year.
Information about Xura Secure
Communications GmbH
Xura Secure Communications GmbH was founded in
2001 (under the name Mindmatics), and in 2014 the company was
acquired by Acision, which later changed its name to Xura Secure
Communications.
The company has since built a strong market
position in Germany. The company has 16 employees at its office in
Munich.
Xuras revenues were 25.5 MEUR in 2016 with an
EBITDA of 2.14 MEUR.
Estimated impact on CLX's
operations
During 2017-2018 it is estimated that the
acquisition of Xura Secure Communications GmbH will cost CLX in the
range of SEK 20-24 million in integration and restructuring costs.
The transaction costs are expected to be in the range of SEK 6-8
million, charged to profit in Q1 2017.
Timetable, integration and
organization:
The company is consolidated as of 16 February
2017, after which the planned integration work will commence and
CLX expects Xura Secure Communications to be fully integrated
toward the end of 2018.
For further information please
contact
Thomas Ahlerup
Chief Investor Relations Officer
CLX Communications AB (publ.)
Mobile +46-768-966300
E-mail
thomas.ahlerup@clxcommunications.com
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
About Xura Secure Communications
GmbH
Xura Secure Communications Gmbh is one of
Germany's leading mobile messaging companies, processing more than
500M messages per year for some of the country's largest banking
and aviation organizations. Offering some of the highest
security standards in Germany, Xura Secure Communications is listed
as a preferred mobile transaction authentication number (mTAN)
provider for Germany`s largest banking networks.
Xura Secure Communications GmbH ("Xura Secure
Communications"), is a subsidiary of Xura Inc. ("Xura"), a leading
global provider of digital communications services.
Important information
This communication may contain certain
forward-looking statements. Such statements are all statements that
do not relate to historical facts and include expressions such as
"believe", "estimate", "anticipate", "expect", "assume", "predict",
"intend", "may", "presuppose", "should" or similar. The
forward-looking statements in this release are based on various
estimates and assumptions that in several cases are based on
additional assumptions. Although CLX believes these assumptions
were reasonable when made, such forward-looking statements are
subject to known and unknown risks, uncertainties and other
important factors that are difficult or impossible to predict and
that are beyond CLX's control. Such risks, uncertainties and
important factors could cause the actual results to differ
materially from the results expressly or implicitly indicated in
this communication through the forward-looking statements. The
information, perceptions and the forward-looking statements in this
release apply only as of the date of this release and may change
without notice.
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 was submitted for publication
under the auspices of the above contact on 17 February 2017 at
[07:30] CET.
170217 CLX acquire XURA
GmbH_ENG_FINAL
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
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