Telecommunication services provider Baltcom has acquired internet and TV operator Mits LV, Baltcom spokeswoman Jekaterina Ivanova told LETA. She said that Baltcom has signed an agreement on acquisition of Mits LV and its subsidiary Esteria79. The sum of the transaction is confidential. The agreement was signed on July 31.

According to Ivanova, Baltcom will continue providing services to Mits LV and Esteria79 clients in line with their current agreements.

As reported, in 2019 Baltocm turned over 17.713 million euros in 2019, which is a 3.6% increase against a year before, while the company's loss shrank 3.1 times to 620.566 euros, according to Firmas.lv business database.

Baltcom was registered in 1991 and has a share capital of 61.97 million euros. The company's sole owner is Bite Latvija.

Mits LV was registered in 1999, and has a share capital of 2.840 euros. The company belonged in equal parts to Larisa Barinova and Vadims Barinovs. In 2019, Mits LV posted 686.265 euros in turnover, while the company's loss was 56.475.