Stofa acquires part of Canal Digital’s cable TV business in Denmark

Stofa has acquired part of Canal Digital’s Danish cable TV business from Telenor. The enterprise value amounts to DKK 51m. The acquired business had sales totalling DKK 83m in 2010. The acquisition is financed with available liquid assets in Stofa.

The acquired operations are the pure-play cable TV business in Canal Digital Denmark, which supplies TV and internet services to 31 antenna associations and their members. In total the business has some 20,000 cable TV customers, 20,000 broadband customers and 6,300 VoIP customers. Sales in 2010 totalled DKK 83m and the business has 9 employees.

“We are very pleased to be able to carry out this acquisition which opens up significant synergies with our existing operations and will also allow us to reach a larger share of the market with our services,” comments Stofa’s CEO Klaus Høeg-Hagensen.

The enterprise value amounts to DKK 51m. The acquisition is financed with available liquid assets in Stofa. The acquisition is completed on 31 October.

Stofa is a Danish triple-play operator (broadband, cable TV and telephony) which provides some 350,000 Danish households with cable TV and 40% of them with broadband as well. The services are delivered in close co-operation with 300 antenna associations throughout Denmark. In addition, Stofa also sells to end-user subscribers who are offered interactive TV services (pay TV), broadband and IP telephony. Stofa has approximately 430 employees and in 2010 sales totalled SEK 1,411m with an operating profit (EBITA) of SEK 117m.

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