Xplora Technologies: European dominance for senior phones - Nordea

Xplora has acquired Emporia, the leading provider of senior mobile phones in the DACH region, enhancing its established presence in the Nordics, UK, and France following its previous acquisition of Doro. Emporia sells over 300,000 devices annually, representing a 25-30% increase in device sales within the senior segment. The transaction price remains undisclosed but is expected to be funded from current resources (NOK 423m in cash by Q4 2025), with completion anticipated in Q2 2026. Based on comparable valuation metrics used for the Doro acquisition, we estimate a purchase price of NOK 250-300m. Xplora plans to leverage Emporia’s established hardware footprint by integrating it with Xplora’s subscription platform and MVNO capabilities, where we expect MVNO operations are likely to launch in Austria and Switzerland in the near future (existing MVNO in Germany). The Emporia acquisition strategically complements Xplora’s current business and expands the subscriber potential in the senior segment by 25-30%, where we expect the share to be up today.