Telia has acquired Finland-based cloud provider Nebula Top Oy as it bids to expand its offering to small businesses.
The operator has paid €165 million for Nebula, which offers automated and standardised cloud infrastructure to the SME and small office/home office segments.
The IT provider, which boasts a customer base of 44,000, registered sales of €35.1 million and EBITDA of €13.5 million last year.
Telia said it expects synergies in excess of €10 million within three years through cross sales and production cost savings.
The acquisition is expected to close in the third quarter of 2017, subject to approval from regulators.
Johan Dennelind, President and CEO of Telia Company, said: “This is another important step in developing the customer experience by adding a complete portfolio of cost efficient and high level automated services.”
Telia has said it is looking to acquire companies in the Nordics and Baltics while it sells off assets in Eurasia.
The NOK 2.3 billion (€250 million) deal gave the operator access to 250,000 mobile subscriptions at 25,000 Norwegian SMEs and public companies.
In February this year, Telia acquired connected transportation company Fältcom, which offers a management platform for the control, monitoring and analysis of IoT devices.