Telia Company has acquired Norwegian Phonero at an enterprise value of NOK2,300 million on a cash and debt free basis, the company said.
Phonero offers telecommunication services to small and medium sized corporate customers as well as public companies in Norway.
Phonero´s customer base comprises 25,000 invoiced enterprises with approximately 250,000 mobile subscriptions. The transaction will increase Telia´s market share in the mobile enterprise segment from approximately 13 percent to 27 percent.
The acquisition is subject to approval from the Norwegian competition authorities and is expected be completed in the first quarter of 2017.