Elisa acquires Starman’s Estonian business
December 14, 2016
Elisa and Starman’s owners, Polaris Invest and Com Holding have signed an agreement in which Finland-based Elisa will acquire 100 per cent of AS Starman’s share capital. The acquisition price is €151 million and Elisa will pay it in cash.
In 2015 Starman’s Estonia business’ revenue was €37 million and EBITDA €18 million. At the end of Q3 2016 the company had approximately 122,000 cable TV subscriptions, 88,000 broadband subscriptions, 60,000 digital terrestrial subscriptions and 30,000 telephony subscriptions.
Starman is the number one pay TV service and number two in fixed broadband services in Estonia with market shares approximately 35 per cent and 20 per cent, respectively.
The transaction is subject to the approval of Estonian competition authorities as well as other usual terms and conditions related to acquisitions. Elisa estimates that the deal will be closed during the first quarter of 2017.