Swisscom Sells Minick

Swisscom signed the contract for the sale of its subsidiary, Minick Holding Ltd, to the German firm, net mobile AG

September 1, 2008

1 Min Read

DUSSELDORF, Germany -- Swisscom signed the contract for the sale of its subsidiary, Minick Holding Ltd, to the German firm, net mobile AG, on 29 August 2008. In return, Swisscom will acquire a minority stake in net mobile AG. The transaction is expected to be completed within the next two months. The parties agreed not to disclose details of the amount involved.

Minick is a pioneer in the area of interactive mobile applications, developing and operating mobile services for telecommunications network operators, media & entertainment companies, advertising agencies and other business customers. Net mobile, one of the leading international full service providers for mobile and interactive value-added services, will take over all of the close to 60 employees from Minick and intends to run the business as an independent company. The move will allow both companies to achieve the necessary scale to keep pace in a consolidating market and create the best possible conditions for long-term development.

Swisscom AG (NYSE: SCM)

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