Trivon AG, the Switzerland-based company which does business through its subsidiaries under the Virgin Connect brand in Russia, has acquired 75% of Speedyline, a triple-play operator operating in the Moscow region. Trivon has also got the option for the further purchase of the remaining 25%.
The deal was completed in December, but announced only last week. Its terms have not been disclosed.
The Speedyline Group of companies is one of the leading regional B2C broadband, telecom and TV operators with its own extensive fiber optic network and portfolio of triple play services. This acquisition “bolsters the market position of Virgin Connect in the Moscow region and strengthens the business for further investment in the Moscow region,” Trivon stated.
“This merger of Speedyline into Virgin Connect is the next step in the execution of our strategy – find local operators in key regions of Russia with exceptional local management and enable them to grow as part of the Virgin Connect family of companies. Virgin Connect has experience with this partnership approach and the approach seems to be well accepted by operators across the country,” Virgin Connect CEO Istvan Kovacs explained.
“We begin to focus more on the opportunities in the B2C markets,” commented Trivon co-CEO Markus Mueller commented. “The Speedyline infrastructure allows us to provide high quality services in a very competitive consumer market”.
In 2013, Trivon acquired MegaMax, one of the leading B2B broadband and telecom operators in the Nizhny Novgorod region.
In September of last year, the Western company opened new regional headquarters in Nizhny Novgorod, confirming its commitment to doing business in Russia.
The Virgin Connect brand is a licensed trademark of the Virgin Group, owned by British entrepreneur Sir Richard Branson.
