ice.net acquires 40,000 customers from unnamed rival

12 Jul 2017

Norwegian mobile network operator ice.net has entered into an agreement to acquire a minimum of 40,000 business-to-consumer (B2C) customers from an undisclosed domestic rival, parent company AINMT Holdings has announced. ice.net will pay approximately NOK75 million (USD9 million) for the customer base, plus a potential bonus payment dependent on the number of subscribers successfully migrated to ice.net. The acquisition is fully financed by the recent NOK200 million equity injection into AINMT Scandinavia Holdings, by AINMT. The transaction is not subject to approval from Norwegian competition authorities, and the migration process is expected to take place between August and October 2017.

Norway, ice, Ice Group (formerly AINMT)