GlobalConnect acquired 70% of the Danish network company Netteam

Denmark M&A 24 April 2019
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GlobalConnect, a Copenhagen, Denmark-based provider of B2B data communication services in the Nordic market, announced getting into a purchase agreement with the Danish network company Netteam.

The deal was made for a 70% equity stake and other financial details were not disclosed.

GlobalConnect will use the acquisition as a step in its attempt to become one of the great players in the Northern European market for hosting and digital infrastructure. In 2018 the company merged with the Norway-based fiber-based datacom provider Broadnet, in a transaction financed by their common owner, the Swedish private equity company EQT Partners.

Netteam, which is headquartered in Lynge, has been owned by the company's director, Peter Durup, who founded the company in 2001. The company is a Cisco gold partner, has more than 40 employees and in 2018 made a  gross profit of DKK 56.7M ($8.5M).