Telia buys CSP Nebula Top OY for €165m

James Pearce
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Telia has snapped up Finnish cloud services provider Nebula Top OY in a deal worth €165 million, as it looks to expand its position in the small and medium enterprise sector.

The cash and debt free transaction will give Telia access to the Finnish firm’s range of automated and standardised cloud infrastructure services.

Founded in 1997, Nebula Top Oy posted net sales of €35.1 million and adjusted EBITDA of €13.5 million in 2016. Telia will acquire 100% of the company from main owner Ratos and other minority shareholders, subject to regulatory approval, with the acquisition expected to close by Q3 2017.

“I’m happy to welcome Nebula’s employees and its customers to Telia Company,” said Johan Dennelind, president and CEO of Telia Company. 

“This is another important step in developing the customer experience by adding a complete portfolio of cost efficient and high level automated services. We are looking forward to working with and learning from Nebula’s very competent staff.” 

Telia said it expects to generate more than €10 million in synergies from the deal within a three year period, based on cross sales and savings on production costs.

It has already announced plans to open one of the largest data centres in Finland to support digitalisation and infrastructure services, with the site expected to go live in 2018.