March 21, 2017

Elisa strengthens position in nearby region

Elisa is set to buy Santa Monica Networks (SMN) Group companies in Finland and Estonia, which specialise in secure IT networks and data centre solutions.
Elisa is set to buy Santa Monica Networks (SMN) Group companies in Finland and Estonia, which specialise in secure IT networks and data centre solutions.
istock.com/matejmo

Finnish telecommunications company Elisa and the Santa Monica Networks (SMN) Group have agreed on the former’s acquisition of SMN companies in Finland and Estonia in order to strengthen its position in the two countries.

The revenue of the companies which Elisa plans to acquire stood at 44 million euros in 2016, and they employ 73 people in Finland and 36 in Estonia. The acquisition price (EV) is 28 million euros.

The deal still has to be approved by the competition authorities in Finland and Estonia before the final transaction can be made, which is expected to happen by 1 May this year.

“With this transaction, we strengthen our Corporate Customers segment in the design, construction and maintenance of secure customer-oriented network solutions,” says Jorma Niemelä, vice president at Elisa.

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