As an ICT and TLC provider, Brennercom’s acquisition is set to expand Retelit’s product offerings leveraging Brennercom’s fibre-optic network, data centres in Bolzano, Trento and Innsbruck, as well as its network infrastructure and telephone exchanges to deliver cloud, disaster recovery, MPLS networking, security and unified communication & collaboration services.
“The possible acquisition of Brennercom further adds value to the growth strategy, recently enhanced by the acquisition of Gruppo PA,” said Dario Pardi (pictured), chairman, Retelit. “In particular, we expect that we can significantly drive Brennercom’s volume and margin growth, thanks to the development of major offer proposal synergies, mainly for the corporate market, while stepping up operations in the Munich-Tyrol-Milan axis in which Brennercom is a market leader.”
The agreed upon price of €52 million is based on the enterprise value of Brennercom and its subsidiaries excluding the Italian subsidiary MET. It is to be paid through a combination of a loan and additional line credit. In addition, under the terms of the agreement, part of the price, amounting to no more than €15 million, may be paid in listed Retelit shares.
“Through our subsidiary D-Net we began to create Brennercom - of which we are founding partners,” added Michl Ebner, chief executive officer of Athesia. “Today we are taking on a new challenge and entering a new phase by acquiring - if the conditions indicated in the binding offer described here are met - an important stake in Retelit. This is to underline our willingness to continue to follow Brennercom and to invest in a sector that has seen us as leaders in our Region and beyond and that will see us as active participants also in the future.”
The deal is expected to close no later than 31 July 2020.
