As anticipated by bebeez the British Private equity HgCapital has bought, through the vehicle Moat Italy Holdco SpA, the 85,32% of the capital of Mobyt, a company listed on the Italian AIM and active in mobile marketing and web advertising. A mandatory bid on the remaining capital will be launched at the same price of 2,50 euro per share (here the press release 1) (here the press release 2). The sellers are Giorgio Nani for 3,750,000 shares representing 29.37% of the capital, Sandro Edelvais for the same number 3,750,000 shares representing 29.37% of the capital, Oenne Srl 2,941,605 shares representing 23.03% of the capital, Riccardo Dragons for 272,370 shares representing 2.13% of the capital and Elisa Antonioli for 180,855 shares, equal to 1.42% of the capital. Giorgio Nani and Oenne srl reinvest part of the proceeds in the vehicle used by HgCapital. Sandro Edelvais and Antonio Zambon will leave the Board while Nicholas David Lloyd Jordan and David Dong Sun will enter the same Board. Mr. Jordan will be appointed President while Georgio Nani and Omero Narducci will keep the position of Ceo and chief financial officer, respectively. Downstream of these transactions the buyer becomes the owner of 10,894,830 ordinary shares representing the 85,32% of the Company’s share capital. The price paid per share represents a premium of 25.8% c.a. respect the average weighted market price of the last 12 months. As a result of the following it was launched a takeover bid for the remaining capital of the company that if it brings the buyer to hold at least 90% of the company’s share capital will lead to the delisting of the company. The operation is aimed at supporting the strategic development plan of the company started with the AIM listing. The sellers were advised by the legal point of view from NCTM while HG Capital had as advisor Linklaters and Fineurop Soditic.
About Mobyt
Mobyt delivers highly reliable solutions for the sending and receipt of SMS messaging services and emailing to support new marketing and advertising opportunities. Our services are currently used by over 28,000 companies, 70% of which are Italian. Mobyt s.r.l. was established in 2002 as an SMS messaging service provider to companies, based on the experience of Giorgio Nani and Sandro Edelvais, formerly founders of Widestore, one of Italy’s top Web Hosting companies. They commenced their global expansion in late 2005, when Mobyt France s.a.r.l. was established as a French-based branch, to take Mobyt services to the French-speaking market.
Since 2012, Mobyt has continued to widen its horizons with the incorporation of its Mobyt Inc. branch in Boston, U.S.A. With its second overseas branch, Mobyt serves the ‘stars and stripes’ mobile service market, which offers great growth prospects.
All the while, Mobyt has consolidated its position as the Italian market leader, guaranteeing service coverage in more than 200 countries.
