Denmark's TDC Buys Local Broadband Provider

Denmark based telco, TDC has entered into a Share Purchase Agreement to acquire Fullrate, a broadband internet provider. The company offers nationwide telephone and broadband internet access, and since February this year, Fullrate also offered mobile broadband.

"We are excited about Fullrates business concept that is extremely customer focused and very simple, as the company's success also shows. That is why we are very pleased that we have an agreement in place," says TDC's Managing Director and CEO Henrik Poulsen.

Fullrate has experienced rapid growth from the beginning in 2006. Fullrate published a net revenue of DKK 181m in 2008, which is twice as much as in 2007. Profit (EBITDA) was in 2008 DKK 35.7m compared to a profit of DKK 15.4m in 2007.

Fullrate will remain an independent brand in the TDC group, and the current management will continue.

"Fullrate will be a new strong brand in TDC group and I have high expectations to the company. Therefore, it is also important that the management stays to ensure continuity," stresses Henrik Poulsen.

Fullrate has 110 employees and doubled the customer base in 2008, so the company had more than 76,000 residential and business customers, equivalent to app. 4 percent of the Danish broadband market.

Posted to the site on 16th March 2009