Telia has merged its Lithuanian operations into a single company and increased its presence in the smart city space with the acquisition of Fält Communications (Fältcom).
Teo, Omnitel and Baltic Data Center will now operate together under the Telia Lietuva brand, offering telecoms, IT and TV services from a single source.
The full merger is a completion of Telia’s efforts to combine the businesses, with Teo’s acquisition of Omnitel for €220 million completed at the beginning of last year. This gave Telia an 88.15 percent direct stake in Teo, which also owns Baltic Data Center, and an 88.15 percent indirect stake in Omnitel.
Meanwhile, Telia has acquired connected transportation company Fältcom, which offers a management platform for the control, monitoring and analysis of IoT devices. Fältcom currently has over 160,000 installations.
Financial details were not disclosed for the transaction, which is expected to close in February.
Currently, SEB Venture Capital and Nordic VC Industrifonden own 93 percent of Fältcom, while the employees own seven percent.
Brendan Ives, Head of Telia’s Division X, said: “The combination of great products and services, and talented and passionate people, will position the combined companies to become the leading provider of Smart Public Transport services whilst laying a foundation for further expansion in the Smart Transport & Logistics and Smart City space.
“This is also fully in line with our ambition to find digital solutions to societal challenges such as climate change while making cities more liveable.”
Earlier this week, Telia CEO Johan Dennelind said the operator is looking for M&A opportunities in the Nordics & Baltics and that he expects to sell off the operator’s assets in Eurasia this year.
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