Telekom Austria Group acquires fixed service provider Amis with operations in Slovenia and Croatia
Today the Telekom Austria Group (VSE: TKA, OTC US: TKAGY) announces that it has agreed to acquire 100% of Amisco NV, the holding entity of Amis Slovenia and Amis Croatia. The sellers comprise Iris Capital, Kebek Private Equity and Amis’ management.
Amis operates as a fixed-line reseller in Slovenia and owns a fibre network in Croatia. The companies offer internet, IPTV and telephony services to approximately 63,000 customers in Slovenia and approximately 23,000 customers in Croatia as of year-end 2014.
The acquisition of Amis is a further step in Telekom Austria Group’s convergence strategy. It allows Telekom Austria Group to develop its Slovenian operations from a mobile-only player into a fully converged operator. In addition, it strengthens the Group’s Croatian business, where it has been offering convergent services since 2011.
In 2014 Amisco revenues amounted to approximately EUR 41 million, with approximately 80% stemming from Slovenia.
Telekom Austria Group will finance the transaction via existing cashflow; the closing is expected for Q3 2015. The transaction is subject to merger control clearance.
Source: Telekom Austria Press Release