Adamant Global Holding said on Friday that it had signed a non-binding letter of intent to acquire 51% of the shares of Domooptik d.o.o., a fiber optic service provider based in Bosnia and Herzegovina, with Fiber Optic assets covering a large region of the capital city of Sarajevo.
The deal, which comes after Adamant’s recently announced acquisition of a substantial stake in Europronet, will provide high-speed Internet access to Europronet’s business and residential clients, the company said.
Fiber Optic assets offer benefits such as higher bandwidth, longer transmission distances, improved latency and stronger security.
“This is a strategic and forward-looking acquisition, which will reinforce the quality of service we are able to provide to Europronet’s customers. It also introduces a major asset into our corporation. Through this and other strategic measures, Adamant is expanding its business from wholesale telecom into the lucrative retail market,” Andrea Pagani, Chief Executive Officer of Adamant Global, said in a press release.
“These changes enable us to better-serve retail and small to medium-sized organizations, which will ultimately foster customer loyalty and growth of the customer base. This, in turn, will expedite distribution of our strategic payment and communication App, and reduce associated marketing costs.”