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Swisscom’s Italian arm also agrees five-year lease of rival’s 3.5-GHz spectrum for 12.5 million.
Fastweb this week agreed to acquire rival Tiscali’s enterprise arm, Tiscali Business, in a deal worth €45 million.
Under the terms of the deal, Fastweb will take over Tiscali Business’ biggest enterprise and public sector contracts, paying €25 million in cash, while the remaining €20 million will come in the form of services rendered. Specifically, Fastweb will enable Tiscali to offer its consumer, soho, and SME customers access to Fastweb’s LTE and fibre networks.
"Thanks to this agreement, Fastweb will further consolidate its position as a supplier of excellence for the industry of large enterprise and public administration. Our success in this area is based on investment in our fibre infrastructure and in the data centres, and in a robust know-how in the provision of cloud-based and security services," said Fastweb CEO Alberto Calcagno, in a statement on Monday.
Fastweb and Tiscali also signed a second deal that will see Fastweb lease Tiscali’s 3.5-GHz spectrum for the purposes of deploying high-speed wireless networks in major Italian cities. Fastweb will pay €12.5 million for the first five years of the agreement.
"We are very pleased to have concluded these deals that have a total value of approximately €58 million, furthermore establishing an industrial partnership with an innovative player such as Fastweb, with whom we have identified several areas of industrial cooperation," said Riccardo Ruggiero, CEO of Tiscali.
"This agreement represents a significant cash injection that will strengthen the financial position of Tiscali Group," he added.
