Go to deals
TMT

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.

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

Reinholds R. Razums

Associate Director
Riga, Latvia
Oaklins Baltics
 Valērija  Lieģe

Valērija Lieģe

Partner
Riga, Latvia
Oaklins Baltics

Related deals

Perkbox has been acquired by Great Hill Partners
Private Equity | TMT

Perkbox has been acquired by Great Hill Partners

Molten Ventures has sold Perkbox to Great Hill Partners.

Learn more
Arculus Cyber Security has been acquired by Bridewell
Private Equity | TMT

Arculus Cyber Security has been acquired by Bridewell

The shareholders of Arculus Cyber Security (Arculus) have sold the business to Bridewell. The deal will bolster Bridewell’s growing roster of accreditations as well as strengthen its public sector footprint, enabling the expansion of its end-to-end cyber security offering for clients across the globe.

Learn more
PCI Pal has completed an equity raise
Financial Services | TMT

PCI Pal has completed an equity raise

PCI Pal has completed a fundraising. Funds will be allocated towards several key areas, with a significant portion directed towards supporting its continued expansion in the US, focusing on marketing efforts, product marketing and enhancing engagement with key partners.

Learn more