History
Component-level repair of Nokia mobile phones was started in Hungary by ASK Industrial Systems Kft. in 1998. In 1999, repair activities were transferred into Mobil ASK Kft. („Mobil ASK Hungary”), a new company established by four Hungarian individuals, who still comprise the senior management team of the Company. The same year, the Company started to develop a Nokia-branded retail and walk-in repair network, the Club Nokia Service Point (CNSP) network, by opening the first shop in Budapest.
In the first three years of operations, Mobil ASK was the sole handset repair partner of Nokia in Hungary. That time, the Hungarian mobile market was expanding very fast and the Company - to keep pace with the market and be able to finance investments required by rapid growth - decided to raise external capital.
In 2000, investment funds Technologieholding Central and Eastern European Fund N.V. and Techologieholding Central and Eastern European parallel Fund B.V. - both advised by 3TS Capital Partners Ltd. - acquired a 49% stake in the Company by raising its capital and purchasing stakes from its quota holders in a $1.2 million transaction.
In 2001, in line with Nokia's global strategy of ensuring alternative suppliers in all countries, a second Nokia handset repair company entered the Hungarian market. Mobil ASK however, could maintain its dominant market position and well-above-50% market share. The same year - further to its existing Nokia quality assurance - MobilASK obtained ISO 9001:2000 qualification. Still in 2002, the TCEE Funds provided a €1.0million 2-year convertible loan facility to the Company, which it fully drew down during the next 18 months to finance MobilASK's entrance to the Czech market as well as further local growth. The loan was converted into equity in 2004. As a result of continuous developments, between 2000 and 2002 Mobil ASK increased its revenues 10 times.
The group’s corporate structure has been reorganised to be more transparent and ready for further partnerships, in 2005. The ownership of the repair companies in all 3 countries have been transferred to a Holding company, created in Slovakia in 2005. This Holding company owns 100% of all three MobilASK companies in Cz, Sk and Hu. The ownership structure of the Holding represents the previous proportions with the institutional investors, 30% still held by the founders and key employees.
In 2008, MobilASK has started to carry out the highest level, 3G L4 repairs for the operators on the Romanian and Bulgarian market, with regular cross-border transfers from these countries.