COBALT is advising Lithuania’s second largest television and internet services provider UAB Cgates on the acquisition of telecommunications company Splius. Closing is subject to merger clearance from the Lithuanian Competition Council.
Following the acquisition of Splius, Cgates will add 90,000 new customers. Cgates now provides internet, TV and telephony services to more than 250,000 customers across Lithuania. The acquisition of Splius is the fourth Cgates deal over the past few years. The transaction value is not disclosed.
Splius is a leading provider of TV and internet services in the northern and western Lithuania. SPLIUS, UAB and VšĮ Šiauliai plius are part of Splius group, which has been successfully operating for more than 20 years.
Cgates is a Lithuanian provider of wired internet and paid TV services with more than 160,000 subscribers across Lithuania. A constantly growing company, Cgates provides interactive, digital cable and terrestrial, smart TV, fiber-optic and broadband internet and fixed telephony services to individuals and businesses.
COBALT has assisted the client with all transaction related matters. The team is led by Dr Juozas Rimas, a Partner and Head of the Mergers and Acquisitions (M&A) Practice Group at COBALT Lithuania, and Senior Associate Inga Mažvilaitė.