Telekom Austria to acquire Slovenia's Amis
Telekom Austria Group is to acquire Slovenian operator Amisco, the holding company of Amis Slovenia and Amis Croatia.
The acquisition is said to enable Telekom Austria Group to develop its Slovenia operations from a mobile-only player into a fully-converged operator. In addition the deal is expected to strengthen the group’s Croatian business where it has been offering convergent services since 2011.
The sum of the acquisition was not disclosed although media reports suggest that it will pay €30 million to the operator’s sellers which comprise Iris Capital, Kebek Private Equity and Amis’ management.
Amis offers internet, IPTV and telephony services to approximately 63,000 and 23,000 customers in Slovenia and Croatia respectively at the end of 2014. It also operates as a fixed line reseller in Slovenia and owns a fibre network in Croatia.
In 2014 Amisco’s revenues amounted to approximately €41 million, of which 80% came from its Slovenian market.
Telekom Austria will finance the transaction from its existing cash flow. The deal expected to close Q3 2015, subject to merger control clearance.