TeliaSonera to close the acquisition of Cygate
TeliaSonera has received the approval of the competition authority to close the acquisition of 98.76 percent of the shares in Cygate AB, a leading supplier of secure and managed IP network solutions as well as system integration in the Nordic market. The acquisition underlines TeliaSonera’s strategic direction to strengthen its position within managed services.
The transaction, which was announced on November 16, 2006, is a strategic acquisition providing TeliaSonera with broader competence within business solution sales, technology and project management. Cygate provides solutions within networking, security and IP telephony, and services within support, maintenance and IT management. Cygate, which has a strong brand recognition in the market, will operate as a separate business within TeliaSonera.