Leading Russian mobile operator MegaFon announced on June 10 that it has acquired NetByNet, a fixed broadband Internet, digital TV and IP telephony operator.
The value of this transaction is approximately $270 million with the final amount depending on financial performance of the company in 2011, MegaFon explained.
NetByNet is one of the largest fixed broadband operators with a 10% market share in Moscow. The company also operates in the Belgorod, Voronezh, Kursk, Lipetsk, and Orlov regions. It has a team of about 1,000 professionals who provide services to 450,000 individuals and 6,000 corporate subscribers, according to MegaFon.
In 2011, the company plans to increase its subscriber base to up to 680,000 subscribers and to achieve $92 million revenue.
“The NetByNet acquisition is an important step in implementing our strategy of creating a universal telecom operator,” said Sergey Soldatenkov, CEO of MegaFon.
In June 2010, MegaFon acquired Synterra, a company with a large terrestrial and satellite telecommunications infrastructure.
MegaFon is also expecting to close its acquisition of St. Petersburg Internet provider Web Plus in a matter of weeks.
Source: MegaFon
