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Allterco to close the sale of its telecom business at the end of July (NEUTRAL)

Allterco announced that it will transfer the ownership over Terravoice and four other companies to LINK Mobility on the 29 July 2019. The two sides agreed on EUR 7.9m purchase price with a 60% upfront payment, 20% deferred for 2 years, and another 20% in rights to Victory Partners VIII Norway Holding, LINK’s majority owner, shares. Allterco exits its core telecommunications business to better focus on Internet of Things (IoT).

Source: Allterco; FFBH

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