The Municipality of Maalahti sold its shares in Bothnia Broadband Ab to Jakobstadsnejdens Telefon Ab (JNT) in August 2020.
JNT operates across all areas of telecommunications, including data services, telephony, TV services, and IT solutions. The company is the leading provider of fiber-optic connections in the Ostrobothnia region. JNT generates annual revenue of approximately EUR 14 million and primarily serves the Ostrobothnia area, particularly the coastal region. The company employs a total of 60 people in Vaasa and Pietarsaari.
Bothnia Broadband is the leading provider of network connectivity and telecommunications services in the Maalahti area. The Municipality of Maalahti established the company in 2001 to ensure fast and reliable telecommunications connections for local residents. The company operates its own fiber-optic network as well as wireless network connections and provides cable TV, IPTV, IP telephony, and internet services. The transaction with JNT met the Municipality of Maalahti's key objectives, including maintaining a high level of service and ensuring the continued availability of reliable telecommunications connections for residents in the area.
BDO acted as advisor to the Municipality of Maalahti throughout the sale process. BDO was selected based on a long-standing and successful client relationship. Over more than ten years, BDO's experts had provided the municipality with numerous services, including audits, training, advisory services, and valuations. This long-term relationship gave the team a strong understanding of the municipality's situation, needs, and expectations regarding the sale. As advisor, BDO managed the entire sale process while taking into account the municipality's objectives and decision-making procedures.
"Jan Kovero and his team were an invaluable support to us in the sale of the shares in Bothnia Broadband Ab. BDO supported us throughout the entire process, from valuing the company to conducting the sale negotiations and drafting and signing the share purchase agreement."
"The process proceeded extremely well thanks to their professionalism, industry knowledge, understanding of sale processes, flexibility, and dedicated approach. It was a pleasure working with Jan, Nora, and the rest of the team, and I look forward to the opportunity to work with them again."
Jenny Malmsten, Municipal Manager, Municipality of Maalahti