TeliaSonera buys IT firm Cygate

Swedish telecoms heavyweight TeliaSonera has bought 98.66% of IT solutions provider Cygate from Swedish investment company Bure Equity for SEK567 million (SEK80 million) in cash. Cygate supplies IP networks and systems in the Nordic market. The acquisition underlines TeliaSonera’s strategic plan to strengthen its integrated IT and managed telecoms solutions business, which CEO Anders Igel has singled out as ‘a major future growth area’.