Telekom Austria Group has announced another expansion in the Croatian fixed line sector, with its local subsidiary VIPnet to acquire a controlling interest in business-focused telco Metronet. The stake is being bought from Croatian corporations, financial institutions and private individuals, including Quaestus Private Equity Fund. Last year Telekom Austria acquired another local ISP, Amis, which also has operations in Slovenia, with the Croatian unit subsequently merged into VIPnet – though it continues to offer services under the Amis brand.
Metronet offers data, voice, managed IT and cloud services to approximately 4,300 corporate customers and claims a presence in 66 Croatian cities. In 2015 the company generated revenues of approximately EUR28 million (USD31 million) and EBITDA of EUR12 million. Telekom Austria’s purchase of a controlling interest in Metronet remains subject to regulatory clearance; the financial details of the deal were not disclosed.