GlobalConnect expands business market and FTTH footprint in one fell swoop.
GlobalConnect Sweden has agreed with Telenor Sweden to acquire operator Open Universe and Telenor Sweden’s single dwelling unit (SDU) fibre assets for SEK 3 billion (€294 million).
The transaction is subject to regulatory approval and is expected to be finalized in Q1, 2022.
Assuming approval is secured, the acquisition will include about 200,000 connected homes on Open Universe’s platform and 14,000 connected homes in Telenor Sweden’s SDU fibre infrastructure.
GlobalConnect Sweden will keep the Open Universe brand name and operating model intact and says it is committed to collaborating with municipalities, property owners and city networks.
The transaction makes GlobalConnect Sweden “one of the leading communications operators in the country,” according to the company's statement.
The acquired SDU fibre assets will be incorporated into GlobalConnect Sweden’s FTTH operations, enabling expansion and densification in the areas where the infrastructure is deployed to offer fibre-based broadband to households that did not have option.
GlobalConnect Group’s ambition is to be the leading provider of digital infrastructure and connectivity across Northern Europe, through organic growth and acquisition.
Martin Lippert, CEO GlobalConnect Group (pictured), said, “We see market consolidation as a natural development in our industry…Acquiring Open Universe and valuable fibre assets from Telenor Sweden fits perfectly into our strategy.”