GlobalConnect Sweden has reached an agreement with Telenor Sweden to acquire communications operator Open Universe and Telenor Sweden’s SDU fibre assets for SEK3 billion (€296 million).
The acquisition includes approximately 200,000 connected homes on Open Universe’s platform and 14,000 connected homes in Telenor Sweden’s SDU fibre infrastructure.
According to GlobalConnect Sweden, it will continue to build on Open Universe’s robust platform and business model, keeping the brand name and operating model intact. It is committed to maintain a strong collaboration with municipalities, property owners and city networks. With additional resources and dedicated focus, GlobalConnect’s ambition is to deliver more, and improved fibre based broadband services to households across Sweden. The transaction makes GlobalConnect Sweden one of the leading communications operators in the country.
It adds that the acquired SDU fibre infrastructure will be incorporated into GlobalConnect Sweden’s FTTH operations, enabling further expansion and densification in the areas where the infrastructure is deployed. This means that GlobalConnect Sweden will be able to offer future proof fibre-based broadband to households that previously have not had the opportunity.
Commenting on the transaction, Martin Lippert, CEO GlobalConnect Group, said: “We see market consolidation as a natural development in our industry, which will ultimately accelerate digitisation and social inclusion across society. We will therefore continue to explore possible acquisitions across all our markets, given that they fit our business model and can contribute to an even stronger offering to our customers. Acquiring Open Universe and valuable fiber assets from Telenor Sweden fits perfectly into our strategy”.
The transaction is subject to regulatory approval and is expected to be finalised in Q1 2022.
GlobalConnect is a leading technology and data communication provider in Northern Europe. it delivers end-to-end solutions from ground to cloud based on its own infrastructure consisting of a 74.500km fibere network and 27,000 sq m data centre space in Denmark, Norway, Sweden and Northern Germany.
GlobalConnect has 28,000 B2B customers and connects 302,000 homes in Sweden and Norway with a high-capacity fibre network. It had revenues of more than €500 million in 2019.
