Nordic infrastruture investor Infranode has acquired a stake in a fibre broadband company in Norway.
Infranode said it has acquired a 49% stake in Tafjord Connect via a partnership with municipality-owned power and utility company Tafjord Kraft. Financial details were undisclosed.
Tafjord Connect is a fibre infrastructure and service provider in M酶re og Romsdal, with over 25,000 customers.
The Norwegain internet service provider is part of the Tafjord Group, which is owned by the municipality of 脜lesund, Eviny and the municipality of Fjord.
The company was established through a merger between Tafjord Kraft鈥檚 telecom services department and Nordvest Nett鈥檚 fibre operations in October 2019. Tafjord Kraft owned 80% of the company, while the remaining 20% was owned by Nordvest Nett.
With this transaction, Tafjord Kraft remains the majority owner of Tafjord Connect.
Erik Botnevik, Infranode鈥檚 country manager in Norway, said: 鈥淚n today鈥檚 digital society, fibre networks have become critical infrastructure, in the same way that people need access to water and electricity.
鈥淭his investment is therefore aligned with our strategy of being a long-term and responsible partner to the public sector.鈥�
Philip Ajina, Infranode co-founder and CIO, said: 鈥淲e see great opportunities in the Nordic fibre infrastructure, particularly in Norway. We are impressed with the way Tafjord Connect has invested in fiber infrastructure and taken a leading role locally.
鈥淲e appreciate the trust we are given and look forward to being a responsible partner who can contribute expertise and capital to invest further.鈥�
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