M&A Deal Summary

TDC Group Acquires Invitel

On April 1, 2007, TDC Group acquired communications company Invitel from GMT Communications Partners and Mid Europa Partners for 470M EUR

Acquisition Highlights
  • This is TDC Group’s 3rd transaction in the Communications sector.
  • This is TDC Group’s largest (disclosed) transaction.
  • This is TDC Group’s 1st transaction in Hungary.
Investment Fate
  • Invitel was divested to a consortium of buyers in 2009.
  • Invitel was sold to a consortium of financial buyers in 2017.

M&A Deal Summary

Date 2007-04-01
Target Invitel
Sector Communications
Buyer(s) TDC Group
Sellers(s) GMT Communications Partners
Mid Europa Partners
Deal Type Add-on Acquisition
Deal Value 470M EUR

Target

Invitel

Budaörs, Hungary
Invitel is an alternative telecommunication service provider, Invitel offers a wide range of info-communication solutions in the whole territory of the country. Invitel was founded in 1992 and is based in Budaors, Hungary.

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Buyer(S) 1

Buyer

TDC Group

Copenhagen, Denmark

Category Company
Founded 1882
Sector Communications
Employees7,111
Revenue 16.1B DKK (2020)
DESCRIPTION

TDC Group is a provider of communications and entertainment solutions. TDC Group has become two companies, each with its own core areas, which work towards a digital future, TDC NET delivers the best mobile network and the fastest fixed-line connections – and represents Denmark’s digital future with a roll-out of fiber and 5G. Nuuday is the leading service provider of digital services within TV, broadband, network, and telephony for private customers and businesses and consists of nine-strong brands.


DEAL STATS #
Overall 3 of 8
Sector: Communications M&A 3 of 5
Type: Add-on Acquisition M&A Deals 3 of 8
Country: Hungary M&A 1 of 1
Year: 2007 M&A 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-19 Bite Group

Amsterdam, Netherlands

Bite Group is a provider of mobile telecommunication and mobile Internet services to residential and business customers primarily in Lithuania and Latvia. Bite Group is based in Amsterdam, Netherlands.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-03-13 Fullrate A/S

Taastrup, Denmark

Fullrate A/S is a broadband services provider.

Buy -

Seller(S) 2

SELLER

GMT Communications Partners

London, United Kingdom

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1993
PE ASSETS 3.5B EUR
Size Large
Type Sector Focused
DESCRIPTION

GMT Communications Partners is a specialist private equity firm focused on investments in the media and communications industries. The Firm prefers established companies with strong barriers to entry. Specific sectors of interest include publishing, information services, tv/radio, mobile voice & data networks, out-of-home media, and telecom infrastructure/services. GMT focuses its investment activity across Europe and will consider later stage investments as well as buyouts. GMT Communications Partners is based in London.


DEAL STATS #
Overall 16 of 28
Sector: Communications M&A 5 of 8
Type: Add-on Acquisition M&A Deals 10 of 14
Country: Hungary M&A 1 of 1
Year: 2007 M&A 1 of 1
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-01 Casema NV

The Hague, Netherlands

Casema NV is a provider of analogue TV, digital TV and broadband Internet access to its residential customers, and leased line data communications and voice telephony to its business customers.

Sell €2.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-01 Melita

Mriehel By-Pass, Malta

Melita is a provider of high-speed broadband and mobile services as well as a premium TV to households and businesses connected to its state-of-the-art telecom network in Malta. It owns and operates a fully invested, over 1,600km long HFC network as well as a 5G-ready mobile network with its own tower and small cell footprint. Melita was founded in 1991 and is based in Mriehel By-Pass, Malta.

Buy -
SELLER

Mid Europa Partners

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 6.2B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

Mid Europa Partners is a private equity firm focused on investing in Central and Eastern Europe. Mid Europa prefers control based investments in market leading companies operating in industries with high barriers to entry. Sectors of interest include telecom, media, utilities, transportation, natural resources, industrial, healthcare, building materials, manufacturing, and agriculture. The Firm looks to commit €50 to €300 million of equity capital per transaction in businesses valued up to €500 million. Prospective transaction types include buyouts, take-privates, divestitures, turnarounds, and large scale expansions. Mid Europa Partners is the successor entity to EMP Europe Ltd, which was formed in 1999. Mid Europa has offices in Budapest, Warsaw, and London.


DEAL STATS #
Overall 6 of 31
Sector: Communications M&A 4 of 7
Type: Add-on Acquisition M&A Deals 6 of 21
Country: Hungary M&A 1 of 3
Year: 2007 M&A 1 of 1
Size (of disclosed) 4 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-19 Bite Group

Amsterdam, Netherlands

Bite Group is a provider of mobile telecommunication and mobile Internet services to residential and business customers primarily in Lithuania and Latvia. Bite Group is based in Amsterdam, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-21 Orange Austria Telecommunication

Vienna, Austria

Orange Austria Telecommunication GmbH offers mobile telecommunications network services. Orange Austria Telecommunication GmbH was founded in 1998 and is based in Vienna, Austria.

Buy €1.4B