DNA acquires full stake in Moi Mobiili
Finnish telecoms group DNA has agreed to purchase the entire share capital of European mobile operator Oy.
Oy’s wholly-owned subsidiary Moi Mobiili, which trades as an MVNO and provides mobile services to private and corporate customers, has been operating as a service operator in the DNA mobile network since 2016.
"In recent years, DNA has grown both organically and through acquiring companies that complement our operations. The acquisition of Moi is therefore a natural continuation in implementing our growth strategy," said Jukka Leinonen, CEO of DNA (pictured).
Leinonen added that products, services and prices will not change. Moi Mobiili remains as an independent company and will continue to serve its customers under its own brand separately from DNA. The parties have agreed not to disclose the purchase price.
“We are very proud that in just a few years we have such a remarkable brand, team and service that big market players have shown interest in,” said Petri Lahtinen, CEO of Moi Mobile.
“DNA has been our network operator right from the start and cooperation with their people has been straightforward, so as a buyer they were a natural option. This deal brings us with a big resourceful backer to invest more in the development of our Moi brand, customer experience and digital services for our customers.”
Moi employs some 10 personnel who will continue in the service of the company. Similarly the partner network will continue to operate unchanged.
The transaction will take immediate effect. The acquired business operations will be consolidated into DNA's figures from the first quarter of 2019 onwards. The transaction is not expected to have a significant impact on DNA's net sales or EBITDA for 2019.