Lithuania’s number two cable operator CGates has agreed the acquisition of local cable operator Splius, subject to regulatory approval.
Splius is one of the leading providers of TV and internet services in the western part of Lithuania and ranked among the top five in the country, operating in the city of Klaipeda and the towns of Šiauliai, Radviliškis, Kelmė, Pasvalys, Naujoji Akmene, Joniškis and Kuršėnai.
CGates did not reveal financial details of the acquisition. The company said that the move would increase the number of homes it served to 90,000, with 250,000 services.
Tomas Burovas, CEO of CGates, said that the purchase of Splius – the fourth acquisition from the company in recent years – would help it pursue its long-term strategy and strengthen its position in the markets in which Splius is active.
Burovas took over as CEO of CGates last year, following the 2017 decoupling of the company from former owner, Estonia’s Starman.
Finnish operator Elisa’s acquisition of Starman from Polaris Invest and Com Holding, following the divestment to the latter of its majority stake by previous controlling shareholder East Capital Explorer, left CGates in the hands of the two investment groups that said they would continue CGates’ strategy of consolidating the Lithuanian cable market.
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11 May 2021 @ 18:00:02 UTC