[July 22, 2011] HitecVision to acquire 100% of North Sea Communications from Telia Norge Tweet Jul 22, 2011 (Datamonitor Financial Deals Tracker via COMTEX) -- HitecVision AS, a private equity firm, has entered into an agreement to acquire all of shares in North Sea Communications AS (NSC) from Telia Norge AS, a company owned by TeliaSonera AB, for SEK170 million ($26.27 million). Both NSC and HitecVision are based in Norway. NSC operates a fiber optical cable system between Norway and the UK, providing communication services to offshore oil and gas industry in the southern part of the North Sea. NSC is a wholly-owned subsidiary of TeliaSonera, a Sweden-based telecommunications group. The transaction is expected to be closed in August 2011. Deal Value (US$ Million) 26.27 Deal Type Private Equity Sub-Category Institutional Buy-out (IBO) Deal Status Announced: 2011-07-21 Deal Participants Target (Company) North Sea Communications AS Vendor (Company) Telia Norge AS % Acquisition 100% [ Back To TMCnet.com's Homepage ]