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

Associate Partner

Riga, Latvia
Oaklins Baltics

View profile Get in touch

Valērija Lieģe

Partner

Riga, Latvia
Oaklins Baltics

View profile Get in touch

Related deals

Niscon Inc. has been acquired by SGPS ShowRig

TMT

Niscon Inc. has been acquired by SGPS ShowRig

Niscon Inc. has been successfully acquired by SGPS ShowRig, a global provider of staging, rigging and automation for live entertainment. The acquisition reinforces SGPS Showrig’s commitment to pushing the boundaries of innovation in the entertainment industry. By adding Niscon’s unique motion-control technology to its portfolio, SGPS Showrig strengthens its ability to deliver cutting-edge, precision-driven solutions.

Learn more

Fairfest Media has acquired WTE Miami

Business Support Services | TMT

Fairfest Media has acquired WTE Miami

Fairfest Media, organizer of OTM, the leading travel show in Asia, has acquired WTE Miami, the fastest-growing travel trade show in the USA. The acquisition marks a significant milestone in Fairfest’s global expansion, strengthening its presence in the Americas and beyond by leveraging decades of experience and leadership in Asia and India.

Learn more

Banook, backed by Motion Equity, has acquired Fluidda

Healthcare | TMT

Banook, backed by Motion Equity, has acquired Fluidda

Banook Group has acquired Fluidda NV, marking a strategic expansion into advanced in-silico trials and respiratory disease modeling. Combining Banook’s expertise in cardiac safety and clinical data services with Fluidda’s AI-driven respiratory analytics creates a powerful, integrated platform. This deal strengthens Banook’s position in the contract research organization (CRO) sector, offering pharmaceutical clients broader, technology-enabled solutions to drive drug development and reduce costs.

Learn more