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TeliaSonera strengthens its position within integrated enterprise services through the acquisition of Cygate
TeliaSonera, the leading telecommunications company in the Nordic and Baltic regions, has reached an agreement with the main shareholder of Cygate AB, the Swedish investment company Bure Equity AB, to acquire 98.66 percent of the shares in Cygate AB for a cash consideration of SEK 567 million on a cash and debt free basis.
“This transaction strengthens our position as an integrator of our corporate customers’ total telecom and IT solutions, a major future growth area for TeliaSonera,” comments Anders Igel, President and CEO of TeliaSonera AB. He continues “This is an additional step to become the leading player within IT and IP integration and to secure long term growth in integrated enterprise services”.
The transaction is a strategic acquisition which provides TeliaSonera with competence within sales, technical and project management within LAN and IP applications. Cygate provides solutions within networking, security, IP telephony and services within support, maintenance and IT management. Cygate, which has a strong brand recognition in the market, will operate as a separate business within TeliaSonera.
The acquisition will be subject to regulatory approval.
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