Stockholm-based investment firm EQT has announced its intention to combine the EQT Infrastructure III portfolio companies Broadnet Holding and GlobalConnect, to create a leading Northern European fibre-based data communications provider and supplier of cloud enabling infrastructure.
Acquired by EQT Infrastructure in May 2018, Broadnet currently controls 24,000km of fibre in Norway through its nationwide backbone and metro network, connecting more than 90 cities across the country. The telco – one of Norway’s main alternative B2B operators – also serves the B2C segment through its ‘HomeNet’ brand.
GlobalConnect, which was acquired by EQT Infrastructure in February 2017, is said to be Denmark’s leading alternative provider of fibre-based B2B data services, as well as the largest Danish data centre provider. The company operates 15,300km of fibre and owns 13,000 square metres of secure colocation space in Denmark and Northern Germany.
The two companies – with combined 2017 revenues of approximately EUR310 million (USD360.3 million) and EBITDA of EUR110 million – will continue to operate under separate names and brands until further notice.