GlobalConnect acquires fiber assets from Telenor
GlobalConnect has reached an agreement with Telenor Sweden, to acquire communications operator Open Universe and Telenor Sweden’s SDU fiber assets. The acquisition includes approximately 200,000 connected homes on Open Universe’s platform and 14,000 connected homes in Telenor Sweden’s SDU fiber infrastructure. The transaction supports GlobalConnect’s ambitions to bridge digital divide and promote social inclusion across Sweden.
GlobalConnect Sweden will continue to build on Open Universe’s robust platform and business model, keeping the brand name and operating model intact. The new owner is committed to maintain a strong collaboration with municipalities, property owners and city networks. With additional resources and dedicated focus, GlobalConnect’s ambition is to deliver more, and improved fiber based broadband services to households across Sweden. The transaction makes GlobalConnect Sweden one of the leading communications operators in the country.
The acquired SDU fiber infrastructure will be incorporated into GlobalConnect Sweden’s FTTH operations, enabling further expansion and densification in the areas where the infrastructure is deployed. This means that GlobalConnect Sweden will be able to offer future proof fiber-based broadband to households that previously have not had the opportunity.
As part of becoming the leading provider of digital infrastructure and connectivity across Northern Europe, GlobalConnect Group’s strategy is to, besides growing organically, to grow by acquisition.
“We see market consolidation as a natural development in our industry, which will ultimately accelerate digitisation and social inclusion across society. We will therefore continue to explore possible acquisitions across all our markets, given that they fit our business model and can contribute to an even stronger offering to our customers. Acquiring Open Universe and valuable fiber assets from Telenor Sweden fits perfectly into our strategy”, says Martin Lippert, CEO GlobalConnect Group.
The transaction is subject to regulatory approval and is expected to be finalized in Q1, 2022.