Iceland Telecom has invested up to EUR 65 million in five Danish companies, which are to be joined in Siminn Danmark, and is ready for several large acquisitions.

After a number of acquisitions the former Icelandic tele-monopoly Iceland Telecom is now ready to launch large-scale commitment on tele solutions for the Danish business market. In record time the Icelanders have acquired five companies and are joining them under the name of Siminn Danmark. Siminn is the Icelandic name for Iceland Telecom and in this way the tele company is starting its targeted expansion outside Iceland.

“We go directly after the middle market in Denmark with companies of 50-250 staff. This is the greatest potential for us,” says Rasmus Helmich who is to be the Danish general manager for the entire company after the merger.

The five companies are Helmich’s former company Webpartner, Ventelo in Denmark, Businessphone, CTI Billing as well as Prime Networks. The companies will be joined under the name Siminn Danmark.

Siminn acquired all the companies for altogether EUR 60-65 million.

Consequently the consolidation continues which is presently ongoing in the market for small tele companies that are serving the middle market of business life. Global Connect is doing the same thing by its acquisition of companies such as V2Tel, Supertel and Foniris, which under the name of Supertel is to take their share of the business market.