OneCo acquires Norwegian Relacom AS
OneCo, an Kristiansand, Norway-based industrial group with core activities in electrical and automation, announced getting into an agreeement for the acquisiition of Norwegian Relacom AS, which supplies technical services and strategic solutions, including telecom and energy.
Under the deal, which has the financial details undisclosed, Relacom becomes part of the OneCo Group and takes over the company's operations.
Relacom AS is currently part of the Relacom Group, with its head office in Sweden. The deal was announced shortly after Relacom sold its Danish subsidiary to Teracom in 2019.
Relacom AS is a major player in the Norwegian telecom market, with almost 1100 employees and an annual turnover of around NOK 1.7 billion. The company is a service provider of technical services and strategic solutions within telecoms, in addition to deliveries of fiber services to several grid companies and developers.
OneCo, led by CEO Marvin Jensen, has around 950 employees and an annual turnover of about NOK 1.8 billion. The company provides services related to electrical, automation and IT. Energy utilities, telecom operators and public and private developers are the largest customer groups.