Sofia-based investment company Viva Corporate Bulgaria said on Monday that it has successfully closed the acquisition of local pay-TV and broadband services provider Bulsatcom.
Details of the deal remain confidential at the moment, Viva Corporate Bulgaria said in an e-mailed statement.
Viva Corporate Bulgaria acquired Bulsatcom in order to support the development of the pay-TV services provider, Bulgarian businessman Spas Roussev, who represents the buyer and until recently was a shareholder in Bulgarian Telecommunications Company (BTC) operating under the Vivacom brand, said in the statement.
"We will continue to concentrate Bulsatcom's efforts in developing key products and services - pay-TV, diverse content and fixed Internet," Roussev said.
According to commercial register data, Viva Corporate Bulgaria is a wholly-owned subsidiary of Luxembourg-based Viva Corporate Sarl, while Bulsatcom is controlled by UK-based Bulsatcom Investment Ltd.
Last year, Dutch-based multi-play and media provider United Group owned by UK private equity firm BC Partners bought Vivacom which is providing mobile, fixed-line telephony, fixed-line broadband and pay-TV services nationwide.
Bulsatcom broadcasts over 240 TV channels, including 230 HD channels, through its DTH и IPTV2.0 platforms, according to the statement by Viva Corporate Bulgaria.