Finland’s Elisa has acquired part of IT network and data centre company Santa Monica Networks as it looks to strengthen its offering to enterprise customers.

The operator has acquired Santa Monica’s operations in Finland and Estonia for €28 million in cash.

The two businesses had combined revenues of €44 million last year and employ 109 staff.

Their customers include publicly listed companies, large and medium-sized businesses that need “expertise in data networks and security” according to a statement.

Subject to regulatory approval , Elisa said it hoped to close the deal by May this year.

Jorma Niemelä, Vice President at Elisa, commented: “With this transaction, we strengthen our Corporate Customers segment in the design, construction and maintenance of secure customer-oriented network solutions.

“The increasingly digital environments of our customers require continuously faster reactions to different situations.

“We will significantly increase this capability with Santa Monica Network's solutions and expertise.”

The Finland-based operator saw revenues from enterprise customers grow from €586 million in 2015 to €606 million last year.

EBITDA rose from €185 million to €194 million over the period.

It acquired Anvia Telecom, including its IT and hosting services, last year.

Kai Vuokko, Managing Director of Santa Monica Networks, said: “Santa Monica Networks has reached a growth stage where it requires a strong owner to develop the company and new services for even broader markets.

“Together [with Elisa], we are able to provide our customers with new services and even broader solutions in the area of secure corporate networks.”

More News

Altice thanks USA for sales, profits growth Altice thanks USA for sales, profits growth Altice Group has shrugged off "aggressive" competition in France and falling profits in Portugal to post a 6.9 percent increase in its bottom line, thanks to the performance of its US arm. More detail
Proximus's BICS issues abide, as Q2 reveals flat profits Proximus's BICS issues abide, as Q2 reveals flat profits Proximus's wholesale arm continued to weigh down its financials, as customer acquisition struggled to lift the bottom line. More detail
Former TIM CEO drops mic upon exit with improved sales, profits Former TIM CEO drops mic upon exit with improved sales, profits Former Telecom Italia CEO Flavio Cattaneo has said he "left the company better than I found it" with sales and earnings increasing for the first half of 2017. More detail
BT pays off DT, Orange as Italy fallout hits Q1 profits BT pays off DT, Orange as Italy fallout hits Q1 profits BT has paid £225 million to Deutsche Telekom and Orange over its Italian accounting scandal and shaken up its management team with a new consumer business led by mobile arm EE's CEO. More detail
TIM aims to become “technological heart” for smart home with product launches, new look for retail TIM aims to become “technological heart” for smart home with product launches, new look for retail TIM has launched the TIM Home ecosystem, introducing a range of new products including a modem and a TV decoder. More detail
    

@eurocomms