Aspiro, the hosted and white-label mobile TV and music provider, today announced that it has sold its remaining mobile entertainment business in Finland to Exsol Oy, for €100,000 ($137,000; £86,000), a holding company set up by games/ringtone distributor Buumi International. This follows a sale of entertainment assets in Norway, Sweden and Denmark in July 2010, for £3.5 million ($5.2 million). Exsol Oy takes over the operation from today.
Exsol stands to make a further €200,000 ($273,000; £171,000) from the deal in earn-outs, with sales at the Finnish operation totalling 7.5 million Swedish kronor ($1 million; £684,000) in the period January-September.
A spokesperson for Aspiro says the Exsol assets will be added to the catalogue of ringtones, wallpapers, games and videos already sold by Buumi.
In June, Aspiro announced its intention to focus more on hosted and white-label streaming entertainment services, and to divest itself of assets like its wallpaper and ringtone businesses as it began to take stock of the declines of those areas. Clients for its current portfolio of streaming services include T-Mobile, Telefónica O2, Telenor, 3, TeliaSonera, Tele2, the BBC, Aftonbladet, mBlox and TVNorge.
Aspiro keeps some business open in Finland, in the area of mobile solutions, although that will now be operated from Sweden.
“We are streamlining our operations and focusing mainly on streaming services in music, television and video, as well as business solutions in the Mobile Solutions area. We see very high growth potential in the future and it is therefore positive that we can focus even more on our core business,” says Aspiro’s CEO Gunnar Sellæg in the company’s release on the news.