Brändö-Kumlinge Fiber (BKF) and Ålands Telekommunikation Ab (Ålcom) have reached an agreement for Ålcom to purchase BKF's business operations and network. The share purchase agreement was signed in May 2023 and after the municipalities decision making was completed the deal was finalized in the fall of 2023.
BKF, a broadband company founded in 2009 to provide broadband solutions to the archipelago residents, has been sold to Ålcom. The municipalities of Brändö and Kumlinge built the backbone network, and BKF managed its operation. For 14 years, BKF has ensured that customers have access to a stable and reliable network connection.The sale to Ålcom is expected to further improve the network, as a redundant supply will minimize the risk of interruptions. Additionally, customers will be offered extended opening hours and access to in-store, telephone, email, chat, and website support.
BDO, advised BKF throughout the sale process. BKF chose BDO as its advisor due to their long and well-established client relationship. For over 10 years, BDO has served as BKF's and the municipalities' auditor. As a result of this long-standing relationship, BDO had a deep understanding of BKF's and the municipalities' situation, needs, and expectations regarding the sale. As BKF's advisor, BDO was responsible for managing the entire sales process, considering BKF's wishes and the municipalities' decision-making.
“With the help of BDO, we achieved our goal of selling the fiber network and ensuring that customers continue to be well-served by a local operator. BDO was responsible for valuing the network, managing the sales process, and conducting the final negotiations.”
John Wrede, Chairman of the board of BKF Brändö-Kumlinge Fiber co-operative.