ATS Praha was introduced to agnitio through its US based shareholder, Advanced Telecom Services, Inc. to provide corporate finance advice approximately two years prior to eventually selling to One-2-One S.A. Prior to the sale of ATS Praha, agnitio identified and approached various buyers on ATS Praha’s behalf and succeeded in soliciting bids for the company which were not pursued due to the structure of the offers. agnitio assisted in the structuring, negotiations and successfully managed the entire process of the sale of ATS Praha s.r.o. to One-2-One S.A. and MCI Management S.A.
Given its experience in the mobile entertainment sector, Advanced Telecom Services, Inc. retained agnitio in 2005 to assist with the sale of ATS Praha, the leading Czech based mobile entertainment business. agnitio garnered a number of previous bids for the Company that were not pursued due to the unappealing deal structure offered to the shareholders of ATS Praha. Eventually, One-2-One was identified as a serious buyer and was willing to make an all cash offer for the assets ATS Praha.
ATS Praha was sold for a total consideration of $4.45 million with an initial upfront payment of $1.45 million and a deferred payment of $3 million held in escrow and released once all tax and regulatory approvals were confirmed.