EQT Infrastructure’s Broadnet, GlobalConnect to merge

Investment firm EQT says it plans to merge Broadnet Holding AS and GlobalConnect A/S, two fiber-optic network services holdings within its EQT Infrastructure III portfolio. Martin Lippert, CEO of Broadnet since 2013, will serve as CEO of the combined company. The effective date of the merger was not disclosed.

Broadnet, which EQT Infrastructure acquired this past May, operates more than 24,000 km of fiber in Norway. The fiber backbone and metro network infrastructure links more than 90 cities across the country. The company serves both businesses and consumers, the latter via its HomeNet brand (see, for example, "Norway’s Broadnet to deliver SD-WAN private line offerings via Huawei").

GlobalConnect, which EQT Infrastructure bought in February 2017, provides fiber-based data communication services to business customers in Denmark and Germany; it also is the largest data center provider in Denmark, EQT asserts. The company operates 15,300 km of fiber-optic network and 13,000 sqm of secure co-location space in Denmark and Northern Germany.

Combining the two companies will expand their respective international offerings, EQT asserts. Last year, the two companies had combined revenues of approximately EUR 310 million and an EBITDA of EUR 110 million.

“We are proud to announce the combination of Broadnet and GlobalConnect, creating a true challenger to the incumbent telecom operators in Norway, Denmark and Northern Germany,” commented Lippert. “The combined company will be a prominent Northern European fiber-based communication provider, helping local and multinational companies in accelerating its digital transformation by offering and making further investments in advanced digital platforms, services and customer support.”

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