Telia Company buys Nebula, a Finnish provider of cloud services, for EUR 165 million.

Nebula, a Helsinki, Finland-based provider of cloud services to small and medium-sized companies, announced that it had been acquired by Telia for EUR 165m (enterprise value).

The transaction will ensure Telia’s competitive position in the SME and SoHo segments.

Nebula Top Oy was founded in 1997 and offers highly automated and standardized cloud infrastructure services with a strong customer centric model. Nebula’s 145 employees serve a customer base of approximately 44,000 who generate 90 percent subscription-based recurring revenues.  In 2016 Nebula reported net sales of EUR 35.1 million and an adjusted EBITDA of EUR 13.5 million. 

Telia Company expects to generate synergies above EUR 10 million within a 3 year period from cross sales as well as production cost savings. In 2018, Telia Company will open one of the largest open data centers in Finland to support digitalization and infrastructure services.

The transaction was made with Ratos and Rite Ventures, which became investors in Nebula in 2013.