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October LMT has become the 100% shareholder in Santa Monica Networks
October LMT has become the 100% shareholder in Santa Monica Networks
The competition councils of Latvia and Lithuania have approved the deal in which SIA Latvijas Mobilais Telefons (LMT) has acquired the Baltic data transmission network and IT security solutions enterprise group Santa Monica Networks (SMN) from Livonia Partners. Thus LMT has become owner of 100% of the shares in SMN.
The companies will join forces to introduce fifth generation network solutions faster and more efficiently. As LMT President Juris Binde explained, “I can confidently say that by combining LMT’s experience in mobile communications solutions with the power of this experienced data transmission network and IT security solutions developer, we have become the most powerful partner in digitalization processes for any public administration body or private enterprise. For a good while now, we have evolved from being a communications operator into an enterprise that resolves complex business transformation tasks for its clients. In welcoming Santa Monica Networks to our team, we will become a business transformation leader.”
According to SMN Board Chair Uģis Bērziņš, “For many years our mission has been to introduce the very latest technologies to the Latvian business environment. Now we are going a step further. Together with LMT, we will ensure the development of various 5G business solutions, expanding the range of clients, which access to most modern technologies and corporate level technical solutions.”
Livonia Partners expressed its satisfaction at the successful conclusion of the deal. “We are delighted to have had the opportunity to support the Santa Monica Networks team with capital and knowledge on the road to leading positions within the network solutions market. We are convinced that as part of the LMT Group, the company will scale new heights,” said Kristīne Bērziņa, founder and partner in SMN’s erstwhile owner, Livonia Partners.
The companies will continue to operate as separate legal entities, joining forces in the development of joint innovation projects.
For further information, please contact:
Valdis Jalinskis, Head of Public Relations Division, LMT
Phone: 29248645, e-mail: valdis.jalinskis@lmt.lv
About Santa Monica Networks: The IT business group SMN is founded in 1989 in Finland. Since 1994, it has been offering solutions to Lithuania's largest telecommunication, IT and media companies, public sector and financial institutions, as well as manufacturing companies in Latvia and Lithuania. The company's portfolio of services includes the development of innovative solutions, design, technical solution, installation, maintenance and management of data transmission networks, cloud computing and IT security systems. SMN works with leading international manufacturers of data transmission networks, data centers and IT security infrastructure products, including Cisco, IBM, Hewlett Packard Enterprise and Juniper Networks. The company is one of the few companies in the Baltics to be granted CISCO Systems Gold Certified Partner status.
About LMT: LMT is the largest mobile operator in Latvia with the widest customer service network in terms of the number of customer connections, turnover and network coverage. As a market leader in innovations, LMT already offers customers a full range of high-quality telecommunications services – voice communications, high-speed mobile Internet without volume limits, as well as mobile television LMT Straume and LMT Smart Television. The company has been working for a long time on the introduction of the next generation data transmission network – 5G – in Latvia and developing various digital solutions in the field of drones, smart cities and smart sensors, mobility and protection. By using big data, machine learning, AI and the latest mobile communication opportunities, LMT develops innovative services both for customers in Latvia and for export. Together with partners from other countries, LMT participates in several European research projects (COMP4DRONES, SPARTA, iMUGS and 5G Routes) to develop opportunities to create products with high added value in Latvia.
About Livonia Partners: Livonia Partners is the pan-Baltic private equity investment firm that is currently managing 83 million euros. In May this year, the Financial and Capital Market Commission registered a new fund manager of Livonia Partners prior to the new fund’s opening for investments. The founders and managers of the company are Kaido Veske, Kristīne Bērziņa, Rain Lõhmus and Mindaugas Utkevičius; the fund's investors are local and international institutional investors. Livonia's investors include the Baltic Innovation Fund, a fund-of-funds initiative of the Estonian, Latvian, Lithuanian and the European Investment Fund, as well as the Baltic and Nordic pension funds.
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