Sale of Santa Monica Networks to LMT
Superia acted as the financial adviser to Livonia Partners and the management on the sale of IT network integration expert Santa Monica Networks to the leading Latvian mobile operator LMT.
“Livonia Partners invests in companies that are leaders in their markets and have teams of courageous entrepreneurs and managers. Santa Monica Networks is precisely this kind of company. Santa Monica Networks in Latvia was founded in 2003 by Uģis Bērziņš, who, based on his vision for technology development and their role in customers’ businesses, has built a market leader in networking solutions, together with an excellent team. We are grateful for the opportunity to support the Santa Monica Networks team with financial capital and our knowledge. We are convinced that the company will reach new heights as part of the LMT group,” states Kristīne Bērziņa, founding partner Livonia Partners, the current majority owner of Santa Monica Networks.
Santa Monica Networks Board Chairman Uģis Bērziņš: “We have been driving innovation for many years by introducing the latest technologies in the Latvian market. Together with LMT, we will be able to take innovation to the next level, by accelerating the development of various 5G business solutions and enabling more customers to have access to the most advanced technologies and corporate-level technology solutions.”
The transaction will be evaluated by Latvian and Lithuanian regulators.
For more information please contact:
Lauris Balga, Partner, lauris.balga@superia.lv
Sigvards Dzelzkalējs, Associate, sigvards.dzelzkalejs@superia.lv