Telekom Austria has agreed to buy the alternative telco Amis, which is present in the Croatian and Slovenian markets, for an undisclosed fee.

The sellers comprise the companies Iris Capital, Kebek Private Equity and the Amis’ management.

With Amis in Slovenia, Telekom Austria will become a convergent multimedia operator in six of its eight operating markets.

Meanwhile, in Croatia the acquisition will strengthen its current market position and further expand its fixed-line product offering with ultrafast FTTH lines.

Commenting on the deal, Hannes Ametsreiter, CEO Telekom Austria Group and A1, said: “With the acquisition of Amis, we can further grow our fixed line business, which is currently experiencing a strong revival. We were among the first operators in Europe to embark on convergence and we are now a provider of comprehensive solutions in six of our eight operating markets. This creates considerable competitive advantages, which mainly benefit our customers”.

Bostjan Kosak, CEO of Amis, added: “We are looking forward to creating synergies and exchanging experiences, especially with Si.mobil and Vipnet. Our customers will profit from an expanded product range and premium quality moving forward. We are delighted to become part of the Telekom Austria Group and, together, we can further consolidate our sustainable growth path”.

Amis was founded in 1995 as the first alternative internet operator in Slovenia and expanded to Croatia in 2003. Currently, it offers internet, IPTV and telephone services to roughly 86,000 customers in both markets.

Telekom Austria will finance the purchase price from its cash flow. Both parties have agreed not to disclose any financial details about the deal, which still requires approval by the relevant competition authorities.