Mid Europa Partners, the CEE private equity firm, recently announced the completion of their acquisition of ITV Partner, a Bulgarian satellite pay TV provider. The deal adds to Mid Europa’s already established cable TV and direct-to-home (DTH) holdings in South East Europe, a sector the company includes as part of its investment strategy. Other similar Mid Europa holdings in the region include Telemach, Total TV, and SBB.
Financial details of the ITV transaction have not been made public.
ITV Partner (www.itvpartner.com)
ITV Partner is a digital satellite TV provider founded in 2004 by Interactive Technologies PLC, a Bulgarian IT and technology company. Originally providing service to the capital city of Sofia, ITV has expanded to service major cities and towns throughout the country and now claims 80,000 subscribers. The company offers standard satellite TV channels as well as Pay-Per-View (PPV), Interactive Pay-Per-View (IPPV), and radio broadcast content to its customers.
ITV Partner is the industry leader in the underdeveloped Bulgarian satellite TV market, having developed and deployed a dedicated satellite named Teleport Sofit equipped with state-of-the-art technology to broadcast its digital signal.
Mid Europa Partners (www.mideuropa.com)
Mid Europa Partners was established in 2005 by EMP Europe Ltd., the European arm of worldwide private equity firm EMP Global.
Investing primarily in Central and Eastern Europe, the company seeks opportunities with companies in sectors with high barriers to entry, having enterprise values between €100 million and €1.5 billion. Mid Europa Partners currently manages three funds; AIG Emerging Europe Infrastructure Fund LP, Emerging Europe Convergence Fund II LP, and Mid Europa Fund III LP. The three funds combine for a total of nearly €3.0 billion in assets under management by Mid Europa.
October 13, 2009
Bulgaria, Central & Eastern Europe, Investment, Private Equity News