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The firm’s M&A team led by associate partner Sander Kärson advised IT company AK Systems in selling its IT services business to the largest IT and telecom company in Estonia, Telia Estonia. The agreement will enter into force after the Competition Authority has approved it.
Member of the board at AK Systems, Lauri Mihkelson, noted that consolidation on the market is a natural process because the IT infrastructure market is becoming more service oriented and it is important to invest in the development of services and increase business revenue.
AK Systems was founded in 1997. The company provides IT services for more than 100 companies and organizations in Estonia and 8 foreign countries in cooperation with local partners.
Telia Estonia’s IT services are used by more than 600 companies and government organisations in Estonia, including large banks, several government ministries and many small-sized companies.
On the same topic (in Estonian)
Äripäev: Telia is buying Estonian competitor
Telia press release: Telia purchased IT company AK Systems
Postimees: Telia purchased competitor
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