RCS & RDS acquires Titan Net

Romanian cabler RCS & RDS has acquired the network and customers of the Titan Net neighborhood network in Bucharest.

“We sold the company’s goodwill to RCS & RDS at the end of last year. I can not say the exact number of customers: they are thousands, not tens of thousands,” said Florin Stanici, the owner the network.

He did not provide details on the transaction value of network based customer base in 2004. “At one point I had an offer from RCS & RDS for a sum of three or four times more or more, but then I refused.”

RCS & RDS did not answer questions from Romanian journalists about the new purchase.

Titan Net services was owned by Enter-Net Team, a small business with seven employees and €73,000 turnover in 2011, according to data from the Ministry of Finance.

RCS & RDS, a company controlled by entrepreneur Zoltan Teszari, has been the most active buyer of small telecom networks in recent years. According to market estimates, unconfirmed by the company, in about a year, the company would have added about 200,000 customers in these transactions.