Deal due to close by the end of November; TDC says it does not require regulatory approvals
TDC this week announced the acquisition of Danish broadband provider Hiper for an undisclosed sum.
The Danish incumbent said Hiper will be a good fit within the company, suggesting it will retain the Hiper brand. Indeed, it noted that there will be no changes afoot for Hiper customers.
Hiper will continue to operate in its current form as part of TDC’s OpCo business unit. The creation of consumer-focused unit OpCo was part of the new operating structure unveiled by TDC in July. The business is charged with driving digital services, and TDC believes its Hiper buy is "a natural part" of this strategy.
"Hiper fits very well into our portfolio of brands, delivering agile and innovative products on digital platforms," noted Jaap Postma, EVP of TDC Group and CEO of OpCo, in a statement.
Hiper has around 50 employees at its Copenhagen office who will retain their positions after the acquisition, TDC said.
The company expects the deal to close by the end of November. It does not require regulatory approvals, it said.
Hiper is effectively a start-up, having arrived on the Danish broadband scene in late 2015. Its founders – Nicolai Lamborg, Stig Myken and Simon Skals – brought with them significant industry experience. Lamborg and Myken co-founded broadband and TV provider Fullrate, which now also operates under TDC’s OpCo umbrella, while Skals’ career history includes technology and business development roles at TDC and Telenor.
"In a few years, they have built up a scalable platform with broadband as a core product and with a high quality customer service," said Postma.
"Shortly after we started the sales process, it was clear that TDC would be a very good partner, and we are looking forward to becoming one of the OpCo family," added Hiper CEO Stig Myken. "We agree on an ambitious plan for the future, and therefore TDC was the natural choice for us."