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Tag: mln
United Internet to buy rest of Versatel for EUR 586 mln
2014-09-03 09:21:00| Telecompaper Headlines
(Telecompaper) United Internet has agreed to buy the rest of Versatel from private equity fund KKR. United Internet acquired 25.1 percent in Versatel at the end of 2012 and will pay EUR 586 million cash for the remaining 74.9 percent. The company will take out new loans to finance the takeover, as well as the repayment of Versatel's EUR 361 million in bank facilities. The acquisition gives United Internet the second-largest fibre network in Germany, extending around 37,000 km to 226 cities, including 19 of the 25 largest cities in the country. Over 5,000 buildings are connected directly to the network, and Versatel also has around 440,000 DSL connections. This raises United Internet's DSL customer base to 4.12 million, strengthening its position as the second-largest provider in the market. Versatel is expected to generate revenues of EUR 548 million and EBITDA of EUR 164 million this year, as well as free cash flow of EUR 79 million. Its current management will remain in place, and the Versatel brand will be retained. United Internet plans to strengthen the company's B2B business, as well as serve corporate customers more under its own brand 1&1. Sourcing DSL pre-services produced by Versatel will also save the group around EUR 55 million per year.
UPDATE 1-Lear Corp to buy leather supplier Eagle Ottawa for $850 mln
2014-08-28 01:29:42| Automakers - Topix.net
Lear Corp, a maker of auto seats and electrical power systems, said it would buy automotive leather supplier Eagle Ottawa LLC for $850 million to strengthen its core seating business and boost its luxury seats portfolio.
Ooredoo Myanmar hits 1 mln subs, targets 25 mln by end-2014
2014-08-25 11:05:00| Telecompaper Headlines
(Telecompaper) Ooredoo has reached 1 million customers in Myanmar, three weeks following the launch of its services on the local market. The operator targets 25 million customers by end-2014. Ooredoo provides 3G voice and internet services in Myanmar using its UMTS900 network. Since the launch, the company said it has seen strong demand for its mobile phone and internet services, with people queuing overnight to purchase an Ooredoo SIM. Ooredoo is one of two new operators in the country, which previously had only a limited, state-owned mobile network with prices beyond the reach of most consumers.
Vodafone to acquire Greek operator HOL for EUR 73 mln
2014-08-22 14:12:00| Telecompaper Headlines
(Telecompaper) Vodafone has agreed to buy control of Greek broadband provider Hellas Online. Vodafone already holds an 18.4 percent stake in HOL since 2009, and the two work together in the market bundling fixed and mobile services. Vodafone Greece has agreed to acquire another 72.7 percent of HOL from Intracom for EUR 72.7 million cash. The transaction values the fully diluted equity of HOL at EUR 100 million and is equivalent to an enterprise value of EUR 311 million including HOL's adjusted net debt of EUR 211 million. HOL had 519,000 customers at the end of 2013 and generated revenue of EUR 227.4 million, EBITDA of EUR 68.4 million and capex of EUR 36.7 million last year. The takeover price values the company at 4.5 times annual EBITDA. Vodafone expects to achieve cost and capex synergies with an annual run-rate of EUR 24 million before integration costs by the third full year after completing the acquisition. The synergies will come from sharing network and IT infrastructure, savings on marketing and bill collections, and rationalisation of overlapping functions.
Tags: eur
operator
greek
acquire
Lookout raises USD 150 mln to target business market
2014-08-13 16:27:00| Telecompaper Headlines
(Telecompaper) Mobile security software developer Lookout has raised another USD 150 million in financing to help expand its products to large companies. Lookout already counts over 50 million consumer users, including millions of paying customers. Its growth has been supported by strategic relationships with mobile operators such as Deutsche Telekom. The company will use the new funds to extend its reach to large enterprises through new product development and expanded go-to-market efforts. The financing was led by investment funds managed by T. Rowe Price Associates and includes participation from new investors Morgan Stanley Investment Management, Wellington Management Company, Goldman Sachs and Bezos Expeditions. Existing investors Mithril Capital Management, Khosla Ventures, Accel Partners, Index Ventures and Andreessen Horowitz also participated.
Tags: business
market
target
usd
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