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.”