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Vipnet Acquires Three Local Fixed Net Providers in Croatia

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Vipnet, the Croatian subsidiary of the Telekom Austria Group, today announced the acquisition of three regional cable network providers, which correspond to a customer base of 6,500 additional customers.

Vipnet gained access to 27,000 additional households in Zagreb and its suburbs as well as along the Dalmatian coast through the acquisition of the company OKI, the finalization of purchasing agreements with Kabelska televizija Šibenik (KTS) and with the residential customer segment of Metronet, which was spun off from the rest of the company.

Financial terms are not being disclosed.

Mladen Pejkovic, CEO of Vipnet, commented on the acquisitions: "These three transactions represent a perfect complement to our present operational footprint in the fixed net business. With these new company acquisitions, we further consolidate our role as a leading fixed net infrastructure operator in urban areas and enable further convergent solutions."

In June 2011, the Telekom Austria Group announced the acquisition of B.net, the biggest cable network provider in Croatia, laying the foundations for the company's convergence strategy. Telekom Austria has mainly opted for acquisition targets that specifically contribute to quickly expanding the present operational footprint.

Mladen Pejkovic concluded: "Through the expansion of our operations to include the fixed net business, we have added another chapter to Vipnet's long success story."

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Tags: vipnet  Croatia