MTG divests portfolio company Zoomin to Azerion

October 28 2019

STOCKHOLM, October 28th 10.30am CET 2019 — Modern Times Group MTG AB (MTG) has sold 100 percent of its ownership in Zoomin to Azerion.

MTG has sold its portfolio company Zoomin to Azerion, a leading Dutch-based  European technology company in media and entertainment. The transaction sees 100% of MTG’s ownership in Zoomin divested.

In the first six months of 2019, Zoomin delivered net sales of SEK 50 million and EBITDA of SEK -34 million. As a result of the transaction, MTG will report a net loss of approx. SEK 80 million in Q4 2019 and will further reclassify the business segment “Other” to “Discontinued operations”.

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