<a id="bm-comp-636a0d14-659c-4010-bce7-15f49a4e4c46" name="bm-comp-636a0d14-659c-4010-bce7-15f49a4e4c46" class="BMCustomAnchor"></a><table><tr><td bm-component-id="636a0d14-659c-4010-bce7-15f49a4e4c46" style="vertical-align: top; width:100.000000%;"><ul><li>300k phones sold annually with +30% GM</li><li>Same playbook as Doro: add subscriptions</li><li>Price not disclosed, but financed with cash at hand</li></ul></td></tr></table><a id="bm-comp-80d81f0b-bde5-49f0-8452-79b863713e5a" name="bm-comp-80d81f0b-bde5-49f0-8452-79b863713e5a" class="BMCustomAnchor"></a><table><tr><td bm-component-id="80d81f0b-bde5-49f0-8452-79b863713e5a" style="vertical-align: top; width:100.000000%;"><h3 class="bm-h3">Aquires Emporia Group for an undisclosed price</h3><p>This morning, Xplora announced that it has agreed on key terms for the acquisition of 100% of the shares in the Emporia Group for an undisclosed consideration. The company is the market leader in senior mobile phones in Germany, Austria, and Switzerland, with annual sales of approximately 300,000 devices across Europe.</p><h3 class="bm-h3">Seem to be a strategic sound acquisition</h3><p>We argue that from a strategic point of view, the acquisition makes sense from two perspectives. First, the deal folles the exact same Playbook as in the Doro acquisition where Xplora can leverage its MVNO licenses and existing infrastructure to introduce its own Cellular subscriptions to Emporia customers and thereby build a base of recurring subscription revenue. Second, Emporia’s strong market position in the DACH region complements Doro’s strong position in UK, France and the Nordics making the combined company a clear European market leader with strong positions in all the major European countries. Emporia has strong market positions in several markets where Xplora does not have an MVNO licence today such as Austria and Italy and we would therefore expect Xplora to add MVNO licenses in some of these markets to fully capitalise on the acquisition, but that has not yet been decided.</p><h3 class="bm-h3">Price not yet disclosed, but likely earnings accretive</h3><p>Emporia’s device margins are in-line with Xplora’s, but according to our understanding Emporia does not have very high EBITDA margins today, but Xplora expect to lift the profitability over time by adding subcriptions. We also assess that their could be some cost synergies due to overlapping functions with Doro/Xplora. The price is not disclosed, but is financed with cash on hand. Thus, the price has to be less than the NOK 422m that Xplora had in cash as of Q4’25. The deal is expected to close during Q2’26. In our view, the transaction that fits perfectly with Xplora’s strategy to add device sales that can enable it to expand its subscription base and it perfectly complements Doro‘s existing footprint. But somewhat difficult to assess valuation as we don’t know the price.</p></td></tr></table>pagebreak <a id="bm-comp-d7a70067-cfd5-4b31-b02b-5dd643b07a43" name="bm-comp-d7a70067-cfd5-4b31-b02b-5dd643b07a43" class="BMCustomAnchor"></a><a id="bm-comp-888b8b2d-ba76-4040-ac23-eda3f221762d" name="bm-comp-888b8b2d-ba76-4040-ac23-eda3f221762d" class="BMCustomAnchor"></a><table><tr><td bm-component-id="d7a70067-cfd5-4b31-b02b-5dd643b07a43" style="vertical-align: top; width:50.000000%;"><table id="bm-img-2f0e8460-2b30-4702-816f-6ecf4829d430" class="bm-img-table xslt-img-empty xslt-img-include"><tr><td class="xslt-img-caption">emporiaSMART.7mini</td></tr><tr><td><img bm-img-encrypt="2f0e8460-2b30-4702-816f-6ecf4829d430" bm-img-original-height="600" bm-img-original-width="600" bm-img-svg="image:image_upload/94704_ea9b8a89-b5d0-4ba1-be07-dcfd338c9238.svg" bm-img-width-hint="100%" id="bm-id-2f0e8460-2b30-4702-816f-6ecf4829d430" src="https://abgsc.bluematrix.com/images/image_upload/94704_ea9b8a89-b5d0-4ba1-be07-dcfd338c9238_600.png" svg="/nas/web/clients/abgsc/images/image_upload/94704_ea9b8a89-b5d0-4ba1-be07-dcfd338c9238.svg" width="363" alt="" title="" /></td></tr><tr><td class="xslt-img-source">Source: Emporia</td></tr></table></td><td bm-component-id="888b8b2d-ba76-4040-ac23-eda3f221762d" style="vertical-align: top; width:50.000000%;"><table id="bm-img-3fe6fb77-4df3-4b52-a79b-aedcabdd046d" class="bm-img-table xslt-img-empty xslt-img-include"><tr><td class="xslt-img-caption">emporiaONE</td></tr><tr><td><img bm-img-encrypt="3fe6fb77-4df3-4b52-a79b-aedcabdd046d" bm-img-original-height="600" bm-img-original-width="600" bm-img-svg="image:image_upload/94704_a2ea2545-c3c2-4ec3-851a-3c43c3f71bdb.svg" bm-img-width-hint="100%" id="bm-id-3fe6fb77-4df3-4b52-a79b-aedcabdd046d" src="https://abgsc.bluematrix.com/images/image_upload/94704_a2ea2545-c3c2-4ec3-851a-3c43c3f71bdb_600.png" svg="/nas/web/clients/abgsc/images/image_upload/94704_a2ea2545-c3c2-4ec3-851a-3c43c3f71bdb.svg" width="363" alt="" title="" /></td></tr><tr><td class="xslt-img-source">Source: Emporia</td></tr></table></td></tr></table>
Xplora Technologies - Acquires DACH's leading senior mobile player
16 mars 2026