24/05/2023

Serena reaches financial close of Altifiber

Serena is pleased to announce the financial close of the investment in Altifiber, a fully integrated developer, owner, and operator of fiber broadband in Norway providing content via internet and TV.

Altifiber has a partnership/franchise model with Altibox with an extensive and flexible fiber network covering SW Norway. Altibox is a product/content creator/supplier that through the franchise model with several regional partnerships, delivers internet, broadband and IPTV services by fiber cables. Altibox is Norway's largest provider of content to fiber broadband and the second largest on TV given any distribution channel/technology. The partnership/franchise model has been the key growth driver for the players in the partnership, and under this model, Altifiber plans, builds, develops, and maintains the local fiber network, as well as owns the customers. Altibox develops and delivers the product and content of the platform that the customer receives, reaching the highest level of customer satisfaction in the country. Local presence and customer satisfaction has led to a solid and stable growth in the partnership and yielded high organic customer growth.

Serena has partnered with Obligo for the investment, as well as Lyse Fiberinvest and Dalane Energi, two local Norwegian industrial groups owned by local municipalities, as partners in Altifiber, and the company’s management. Serena and its partners will support the Company’s growth.