GlobalConnect Sweden acquires Open Universe and fiber assets from Telenor Sweden

GlobalConnect Sweden acquires leading communications operator and fiber assets from Telenor Sweden – rapidly growing existing business area and its FTTH footprint

 

GlobalConnect Sweden has reached an agreement with Telenor Sweden, to acquire communications operator Open Universe and Telenor Sweden’s SDU fiber assets. The acquisition includes approximately 200,000 connected homes on Open Universe’s platform and 14,000 connected homes in Telenor Sweden’s SDU fiber infrastructure.

The transaction supports GlobalConnect’s ambitions to bridge digital divide and promote social inclusion across Sweden. The purchase price amounts to SEK 3 billion.

Maintaining the brand

GlobalConnect Sweden will continue to build on Open Universe’s robust platform and business model, keeping the brand name and operating model intact. The new owner is committed to maintain a strong collaboration with municipalities, property owners and city networks.

With additional resources and dedicated focus, GlobalConnect’s ambition is to deliver more, and improved fiber based broadband services to households across Sweden. The transaction makes GlobalConnect Sweden one of the leading communications operators in the country.

Further expansion

The acquired SDU fiber infrastructure will be incorporated into GlobalConnect Sweden’s FTTH operations, enabling further expansion and densification in the areas where the infrastructure is deployed. This means that GlobalConnect Sweden will be able to offer future proof fiber-based broadband to households that previously have not had the opportunity.

As part of becoming the leading provider of digital infrastructure and connectivity across Northern Europe, GlobalConnect Group’s strategy is to, besides growing organically, to grow by acquisition.

Strategical acquisition

“We see market consolidation as a natural development in our industry, which will ultimately accelerate digitization and social inclusion across society. We will therefore continue to explore possible acquisitions across all our markets, given that they fit our business model and can contribute to an even stronger offering to our customers.

Acquiring Open Universe and valuable fiber assets from Telenor Sweden fits perfectly into our strategy”, says Martin Lippert, CEO GlobalConnect Group.

The transaction is subject to regulatory approval and is expected to be finalized in Q1, 2022.

 

About GlobalConnect Group

GlobalConnect Group is one of the leading digital infrastructure and data communication providers in Northern Europe. The Group delivers end-to-end solutions across its own infrastructure consisting of 93,600 kilometers fiber network and 30,000 sqm data center space in Denmark, Norway, Sweden, Germany and Finland.

GlobalConnect Group employs approximately 1,700 people, has 30,000 B2B customers and connects more than 380,000 private households with a high-capacity fiber network.

GlobalConnect Group is the result of 2019 and 2020 mergers between Broadnet, GlobalConnect and IP-Only. In the B2C segment, the group operates under the brands IP-Only, HomeNet and Onefiber, while operating as GlobalConnect in the B2B segment across all its markets.

GlobalConnect Group is owned by global investment organization EQT, one of Europe’s largest