April 1, 2010
Bellit sold to Telio
One of the few remaining providers of broadband telephony in Norway
The company was founded 1993, are headquartered in Oslo, and has provided Norwegians with broadband telephony and mobile services for 6 years.
The company is a highly scarce asset as one the few remaining providers of broadband telephony in the region.
Acquired 100% of the Bellit shares
Telio is the leading provider of access independent broadband telephony in Europe.
It operates in Norway, Denmark, the Netherlands and Switzerland and serves over 145,000 customers (as at the end of 2009) and provides IP services to the residential and business market.
In April 2010, Telio acquired Bellit, with the prime objective of acquiring the customer base and thereby further strengthen Telio’s position in the Norwegian market and offer enhanced services to Bellit customers.
As the European leader in access independent broadband telephony, Telio will act as a safe haven for Bellit customers, and will provide the same services they receive from Bellit today.
In addition, Telio can offer these customers an extended service offering and future services such as video telephony and iPhone/iPad telephony.
GCA Altium acted as sole advisor to the sellers.