Baltcom, an integrated telecommunications provider in Latvia, has completed its acquisition of Microlines Group, which comprises Microlines, Electrons.lv, Elektrons, Bit Telecom, QWERTY and Clouds 365.
Microlines group is one of the most significant and oldest regional operators, providing internet and TV services to customers in Rezekne, Ludza, Preili, Kraslava, Livani, Gulbene, Balvi, Cesis, Valka, Smiltene, and other cities.
According to local media reports, the Latvian fixed broadband and TV provider noted that the customers of Microlines companies will now see an expansion of the services they are offered. They will have access to a symmetrical optical internet offer with a speed of up to 1000 Mbps, TV products will become more diverse and the possibility to use electricity at one of the lowest tariffs in the country will be provided.
The media reports revealed that the transaction has become a logical step in the development of Baltcom and a market trend of telecommunications in Latvia, which recently demonstrates consolidation as the regional operators become part of large telecom operators. The parties cannot disclose the value of the transaction due to confidentiality agreements.
Baltcom was founded in 1991 and is the leading private provider of fixed telecom services, including interactive and digital TV, in Latvia. It had a turnover of €19.9 million in 2020.