TDC Group is selling its subsidiary TDC Hosting to the Danish equity fund Maj Invest Equity. This is happening in continuation of TDC Group's overall strategy – 'Always simpler and better' – which, among other things, involves streamlining its business division.
The agreement with Maj Invest Equity means that Maj Invest Equity will take over all 300 employees and other activities related to customers, suppliers and partnerships in TDC Hosting. The parties have agreed that the acquisition price will not be disclosed.
"At TDC Business, we want to focus on our core business – operator and integrator solutions – and we have therefore decided to sell the company. In our view, through divesting the company we have created more value for TDC Group than we would have done through our continued ownership of TDC Hosting," says Marina Lønning, Senior Executive Vice President of TDC Business.
TDC Hosting is an independent subsidiary in TDC Group, and supplies IT infrastructure and IT outsourcing services, both alone and in collaboration with TDC Business.
"TDC Hosting already operates as an independent company, which in partnership with TDC Business provides services to a wide range of Danish enterprises. TDC Business and TDC Hosting will continue this cooperation, and are entering into a strategic partnership, and I thus have every confidence that we are putting our customers in safe hands with Maj Invest Equity as the new owner of TDC Hosting," says Marina Lønning.
The change of ownership will not have any practical consequences for either customers or employees.
The transaction is conditional upon approval by the Danish competition authorities and is expected to be completed in the coming months.
For more information:
TDC press, tel. +45 70 20 35 10