Sweden based entertainment broadcasting group Modern Times Group (MTG) has signed an agreement to acquire 80% of Sweden’s Open Access Communications Operator, Zitius Service Delivery (‘Zitius’) from Quadracom for undisclosed sum.
Quadracom also gives MTG the option to acquire the remaining 20% stake in the company in 2016.
MTG president and CEO Hans-Holger Albrecht said the acquisition supports the roll-out of high speed platforms that broaden the availability and increase the consumption of its content.
"Our intention is to strengthen Zitius’ market leading position even further, and to continue providing attractive offerings to customers from multiple suppliers in an open environment," Albrecht said.
"We will continue to market our own Viasat channels and Viaplay service to consumers through as many platforms as possible."
Zitius provides approximately connected fibre network 750,000 homes, or 16% of all Swedish households, are estimated to be currently connected to Open Access networks.
The company provides network management and service packaging services, and installs, owns and operates the active network equipment including routers and switches, but typically does not operate the equipment on consumer premises.
Quadracom CEO Roy Forslund said "Becoming a part of MTG, Sweden’s leading premium content provider, will significantly strengthen the Company’s position and give it the power to fulfil the vision to offer the broadest, locally tailored and most exciting services for the benefit of our existing and future network owner customers and all those who are connected to open access broadband networks managed by Zitius."
