Ellex Klavins and Ellex Valiunas have advised Livonia Partners on the sale of 100% of the shares in Santa Monica Networks to LMT in Latvia and Lithuania, respectively. Eversheds Sutherland advised the buyer.
Financial details of the transaction were not disclosed.
According to Ellex, the deal will facilitate 5G network implementation for both companies.
Livonia Partners is a Baltic private equity firm with EUR 83 million in assets under management. Santa Monica Networks is a provider of data transmission and IT security services for telecommunications, IT, and media companies, as well as public sector and financial institutions in Latvia and Lithuania. LMT is a Latvian mobile operator, founded in Riga in 1992.
The Ellex Klavins team included Managing Partner Liga Merwin, Associate Partner Sarmis Spilbergs, and Tax Consultant Zinta Jansons; Ellex Valiunas’s team consisted of Partner Robertas Ciocys and Expert Simona Jaunciauskaite.
The Eversheds Sutherland team included Senior Partner Maris Vainovskis, Of Counsel Vadim Chaban, Senior Associates Aigars Gozitis and Gunta Lokastova, Associate Dmitrijs Nemirovskis, and Lawyer Liene Lelde Rieba.