Sorainen has advised BITE Latvija, the mobile telecommunications operator and a portfolio company of Providence Equity Partners in Latvia, on the acquisition of Stream Networks and its LATNET Serviss subsidiary.
The target companies specialize in data transmission services and after the transaction will operate as part of the BITE Group.
According to Kaspars Buls, CEO of BITE Latvija, "this transaction is expected to result in synergies enabled by consolidating the strengths of all parties involved [...] in developing and implementing non-standard innovative solutions. This will allow clients access to unique solutions in order to boost business efficiency."
The Sorainen team consisted of Managing Partner Eva Berlaus, Senior Associate Marika Grunte, and Associate Janis Bite.
Sorainen did not reply to an inquiry about the deal.