On Monday 19 September 2022, LuxNetwork, an internet service provider in Luxembourg, announced the acquisition of the assets of Telecom Luxembourg International.
Telecom Luxembourg International is a privately owned global provider of next-generation hyper-connected and scalable solutions, such as Internet and managed networks, SD-WAN, Cloud and Datacentre connectivity solutions.
Founded in 2012, LuxNetwork provides connectivity solutions and network infrastructure services to support business challenges of corporate customers.
A strengthened presence on the Luxembourgish market
The position of LuxNetwork in the national market is expected to be strengthened by this new acquisition. As a result, the company believes that its presence and market share in Luxembourg as a key service provider in the wholesales and enterprise market will be reinforced.
“We are very enthusiastic and positive about this acquisition as it is going to bring immense growth opportunities for everyone. Not only will it make our company stronger but it will also help us have a bigger market share. Moreover, the increased resources will help us perform better and deliver better products and services to all our customers and partners”, said Luc Lutot, CEO of LuxNetwork.
The acquisition is effective Thursday 1 September 2022 and no financial terms were disclosed.
