Tet has acquired Telia Latvija from Telia Company

Tet, the leading technology and entertainment operator in Latvia, has acquired Telia Latvija – a B2B telecom services provider – from Telia Company in a competitive auction process. The sale price corresponds to an enterprise value of US$11.5 million on a cash and debt free basis, representing a FY 2021 EV/EBITDA multiple of 10.0x.

Tet is a local technology and entertainment operator in Latvia, offering a full range of ICT and pay-TV services to households, businesses, the government and municipal institutions, as well as electricity and other services. In 2021, Tet had revenues of US$271 million and US$68 million EBITDA.

Telia Latvija was founded in 1992 and is a B2B telecom services provider. The company has 46 employees and offers large businesses across Latvia solutions within four services segments: telecommunications, cloud, data center solutions and media solutions.

Telia Company is a Swedish multinational telecommunications company and mobile network operator present in Sweden, Finland, Norway, Denmark, Lithuania, Latvia and Estonia. The company is headquartered in Stockholm and its stock is traded on the Stockholm Stock Exchange and on the Helsinki Stock Exchange.

Oaklins’ team in Latvia advised Tet throughout the acquisition process.

Service

M&A buy-side

Parties

“Tet’s strategy is to accelerate growth via acquisitions, and we are very excited about the opportunity to acquire Telia Latvia. We believe our businesses complement each other, especially within our data center and transmission business. We look forward to welcoming Telia Latvia and its employees to Tet and together, develop the business to the benefit of our customers, employees and the Latvian society at large.”

Uldis Tatarčuks

CEO, Tet

Talk to the deal team

Reinholds R. Razums

Director

Riga, Latvia
Oaklins Baltics

View profile Get in touch

Valērija Lieģe

Partner

Riga, Latvia
Oaklins Baltics

View profile Get in touch

Related deals

Haufe-Lexware Real Estate AG has been acquired by Aareon Group, a portfolio company of Advent International

Real Estate | TMT

Haufe-Lexware Real Estate AG has been acquired by Aareon Group, a portfolio company of Advent International

The Haufe Group SE has sold Haufe-Lexware Real Estate AG to Aareon Group.

Learn more

GARAIO has been acquired by Netrics Group

Private Equity | TMT

GARAIO has been acquired by Netrics Group

Netrics Group has acquired GARAIO AG as a wholly owned subsidiary. GARAIO will continue to operate as an independent company under the umbrella of Netrics Group. With this acquisition, Netrics Group is further expanding its leading position as a provider of managed cloud and digital workplace solutions as well as consulting services.

Learn more

Bookwire enters into a long-term strategic partnership with IPG

TMT

Bookwire enters into a long-term strategic partnership with IPG

Bookwire, a Germany-based portfolio company of VR Equitypartner, has acquired the digital distribution business of Independent Publishers Group (IPG) and entered into a long-term strategic partnership. Both Bookwire and IPG will continue to focus on their respective specialties, with IPG providing exceptional comprehensive distribution solutions for independent publishers and Bookwire specializing in the worldwide digital distribution of ebooks and audiobooks.

Learn more