Lounea acquires Cinia’s building and fiber optic network operating business – Neuvoa advisor to the buyer
Neuvoa was the advisor to Lounea Oy, one of Finland’s largest fiber network operators, as the Group’s subsidiary Lounea Palvelut Oy acquired the building and fiber optic network operating business of Cinia Oy. After the transaction, Lounea will provide operating services to over twenty fiber optic network companies with ca. 20 000 end customers. The deal considerably strengthens Lounea’s position in the national fiber optic network market, and increases the amount of served end customers.
Lounea’s Riku Päärni gives a comment: “We are excited to provide the service to these new fiber network customer. We welcome Cinia’s personnel and customers to Lounea. The services for existing customers will stay the same, and the people customers are used to contacting will be available to them also in the future.”
Cinia’s director responsible for the information network business, Antti Alasalmi, comments that the transaction supports Cinia’s strategy of focusing on growing its core businesses: information secure software solutions, cyber security and the development of information networks and critical fiber infrastructure.
“We are very happy to find a buyer with the possibility to considerably grow this business, which furthermore has services related to fiber based consumer connections at its core”, Alasalmi continues.
More on the transaction in Lounea’s press release: