AS KPMG Baltics, KPMG in Sweden and KPMG Law in Latvia supported the sale of OSS Networks. As a result of the deal, OSS Networks, the leading IP telecom and cloud services company in Latvia, merged with the fastest growing provider of unified communications in Europe, ENREACH, which thus notably expanded its presence in Europe.
OSS Networks operates in the telecom industry providing both IP and mobile communications. With over 1 100 customers and more than 33 000 users of their systems the entity is the leader in its business niche in the Baltics.
“The work that KPMG did enabled the client to both obtain a high valuation of the company and enjoy a smooth process of unified coordination of the disposal, legal and due diligence process and valuations of several companies”, said Karlis Urbans, Associate Director, M&A, Deal Advisory, KPMG in Latvia.
OSS Networks will remain managed by the founders who have, courtesy of the deal, become shareholders of ENREACH and now have the opportunity to develop their business on a much wider scale.
The role of KPMG in the deal was not limited to M&A, it involved coordinating a number of valuation engagements and providing extensive legal support throughout the deal.