Tet has acquired Telia Latvija from Telia Company
May 2022 — 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.
Our role in the transaction
Oaklins’ team in Latvia advised Tet throughout the acquisition process.
Uldis Tatarčuks
CEO, Tet
Talk to the deal team
Related deals
Freeway Fleet Systems has been acquired by Movement Software
Freeway Fleet Systems has been acquired by Movement Software, strengthening its position as a leading provider of fleet management and maintenance software while expanding the group’s presence into the UK market. As a strategic consolidator focused on transportation and mobility software, Movement Software will benefit from immediate product and customer synergies, with Freeway providing a strong platform for further geographic expansion across key fleet end markets.
Learn moreBIG BIO Herlev and BIG BIO Nordhavn have been acquired by Nordisk Film Biografer
BIG BIO Herlev and BIG BIO Nordhavn, two premium cinemas in the Copenhagen area, have been acquired by Nordisk Film Biografer, part of Nordisk Film, which is owned by Egmont. The acquisition expands Nordisk Film Biografer’s presence in the Danish cinema market and strengthens its premium cinema offering, adding two established venues to its portfolio.
Learn moreComtax has been acquired by Ryan
Comtax, a São Paulo-based tax technology consultancy specializing in tax determination and digital tax compliance, had been acquired by Ryan, the world’s largest firm dedicated exclusively to business taxes. The transaction marks Ryan’s entry into the Brazilian market, adding a specialized team and an established base of large corporate clients in Brazil, one of the world’s most complex tax environments, at a time when the country’s consumption tax reform is set to reshape how companies calculate and report indirect taxes. For Comtax, the acquisition brings access to Ryan’s global platform, technology and client network across more than 80 countries, creating opportunities to scale its tax determination and compliance offering beyond its current footprint. Comtax’s founders will continue to lead the business.
Learn more