Ziggo pays EUR18m for Esprit Telecom, paper says

15 Mar 2013

Dutch cable operator Ziggo has purchased smaller rival Esprit Telecom for a cash consideration of around EUR18 million (USD23.3 million) from the Detron ICT & Telecom Group, Telecompaper reports without citing its sources. It is understood that Esprit Telecom will continue to trade under its own name for the short- to medium-term, subject to the deal receiving the necessary thumbs up from the Dutch Competition Authority (NMa). The transaction also includes Zwolle-based Zoranet, an ICT provider which has a focus on the Dutch retail sector.

Based in Almere, Esprit Telecom was set up to provide voice and data services to SMEs. It has around 75 staff, serves around 5,000 customers, and reported revenues of EUR37 million in 2012.