Cgates snaps up smaller regional operators

1 Oct 2014

Lithuanian cable network operator Cgates has increased its competitive position with the acquisition of a number of smaller regional companies in late June, writes Verslo Zinios, citing the cableco’s CEO Paulius Dambrauskas. Without disclosing the value of the transaction, the executive said that Cgates has acquired two companies – Ukmerges TV (operating in Ukmerge) and Rakaras (Skuodas) – and part of another business, Satela (operating in Vilkaviskis, Zarasai and Kybartai). During 2015-16 Cgates plans to invest around LTL2 million (USD730,000) to modernise the networks of the new acquisitions and to increase the range of services offered by the companies, including internet access at download speeds of up to 300Mbps. The acquisitions have increased Cgates’ total subscriber base to 195,000.

Lithuania, Cgates