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Santa Monica Networks Group assets sold to Elisa Corporation and Livonia Partners

Shareholders of Santa Monica Networks Group OÜ have sold 100% of the shares of the ICT company that operates in the three Baltic states and Finland. The Group’s Latvian and Lithuanian assets have been sold to Livonia Partners and management and its Estonian and Finnish assets to Elisa.

Santa Monica Networks is a regional market and expertise leader in supporting core networks, data security, unified communications as well as data centres. The Group caters directly to large telecommunications companies and ISPs, public companies, banks and financial institutions, educational institutions and large manufacturing firms.

“The current shareholders and management have built an extremely successful ICT group. While Santa Monica Networks was originally founded in 1989, then the group in its current set up has been operating since 2006. In the last decade, the number of employees multiplied to 159 in 2016, revenue multiplied by four times and profitability over 10 times. The business strategies have been very successful – we developed and nurtured talent over many years, invested into a very customer-focussed support, maintenance, managed, professional, training and technology architecture service portfolio called SantaCare, the sales of which has grown 4 times over the last 9 years. Great vision, smart strategy and excellent execution has brought us to today,” commented Justas Dargužas, general manager of Santa Monica Networks Group OU.

Santa Monica Network Group’s Estonian and Finnish assets are acquired by telecommunications company Elisa and Latvian and Lithuanian assets are acquired by Livonia Partners, a pan-Baltic private equity firm, and management of Santa Monica Networks Latvia and Lithuania.

“Santa Monica Networks Group has developed into a market leader in all its four markets in networking, security and data centres. As such the purchased operations complement the buyers’ business very well. We feel good about the sales transaction as the team and competences will be taken care of very well and according to our hopes, will help propel them to the next level, as Elisa and Livonia have the capabilities and motivation to do that,”  added Tapani Teeriaho, chairman of the supervisory board of Santa Monica Networks Group.

“Over the years Santa Monica Networks has become a trusted technology partner to its customers in the region due to the vision and dedication of company’s founders and its outstanding team. The company operates in a high-growth business area as data traffic surges on the back of on-going systems integration and development of cloud and IoT solutions and cybersecurity gains in importance,” says Kristīne Bērziņa, a founding partner at Livonia.

The acquisition price (EV) for the Finnish and Estonian operations amounted to EUR 28m while the consideration for the Latvian and Lithuanian operations is not disclosed. Elisa's part of the transaction is subject to competition authorities’ approval in Finland and Estonia and Livonia's part subject to security authorities’ approval in Lithuania. Final closing of the transaction is expected before May 1st. PwC Corporate Finance, Helsinki acted as the financial advisor while Cobalt Estonia acted as the legal advisor.

Additional information:

Tapani Teeriaho

Chairman of Supervisory Board of Santa Monica Networks Group OÜ

Šis el.pašto adresas yra apsaugotas nuo Spam'o, jums reikia įjungti Javaskriptą, kad matytumėte tai

Justas Dargužas

General Manager of Santa Monica Networks Group OÜ

Šis el.pašto adresas yra apsaugotas nuo Spam'o, jums reikia įjungti Javaskriptą, kad matytumėte tai

Santa Monica Networks has been working in the IT market since 1989. It is a regional market and expertise leader in supporting core networks, data security, unified communications as well as data centres.

Santa Monica Networks UAB

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+370 5 2638700
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+370 5 2638710
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