Scandinavian Equity Partners acquires StjärnTV
Scandinavian Equity Partners acquires StjärnTV from Singapore Telecom International for SEK 730 million. The acquisition means that StjärnTV is given resources to develop products for the future within television, the Internet and interactive services.
StjärnTV was founded in 1985 and has today approximately 230 000 connected households and thereby reaches 700 000 people in the Stockholm area. The market share in Stockholm is 60 percent.
StjärnTV has recently launched Fast Internet service via the cable TV outlet in test sites in Vällingby and Södermalm in Stockholm. The Fast Internet service provides speeds which are more than 20 times faster than that of an ordinary modem. The intention is to provide the service to all connected households within a year.
In conjunction with the acquisition, Björn Svedberg, formerly among others CEO of Ericsson, will assume the position as Chairman of StjärnTV.
Gösta Bystedt, the Chairman of Scandinavian Equity Partners comments:
- StjärnTV is a very well-managed company. Together with management we will develop new attractive services for StjärnTV's customers. As a strong and active owner we will provide StjärnTV with stability and necessary resources for the continued growth of the company.
More information on:
- Scandinavian Equity Partners and EQT is given on EQT's home page www.eqt.se
- StjärnTV is given on StjärnTV's home page www.stjarntv.se