Boxer, a part of the Swedish media operator Teracom Group acquires a majority share in Finnish pay-tv operator Digi TV Plus Oy (PlusTV).  PlusTV founded only two years ago has managed to grow to 280 000 subscribers, reached a turnover of € 50 000 000+ in its second fiscal year and reached its breakeven on an EBITDA level in December 2008.  The current main owners IT Provider Funds and Baker Capital will retain a minority ownership in the company.

PlusTV was founded in 2006 by a team of entrepreneurs and IT Provider Funds prior to the digitalisation of the terrestrial TV network in Finland. Leveraging its position by being ready to market its services once the broad digitalisation took place the company was able to quickly take the leading position as Finland’s pay-tv operator of choice. The minority shareholder together with Boxer will continue the development of the company, drawing on Boxer’s experience from operations in Sweden and Denmark.

PlusTV’s personnel will continue their journey with the company except for the CEO Vesa Mars and the Chairman of The Board Arne Wessberg who will both step aside from the daily operations but remain as advisors to the board. IT Provider Funds will keep a seat at the board and track the company in detail to assists and ensure the future success of PlusTV.

“PlusTV has under the ownership of IT Provider Funds and Baker Capital together with the skilful management of the CEO Vesa Mars and his team grown remarkably well during the past two years. With the company now reaching its breakeven it was the right time to find a new industrial partner for the company that can take the company to its next level.” Says Gösta Johannesson, Partner at Provider Venture Partners and responsible for the deal. 

Johannesson continues:  “Boxer which already has pay-tv operations in Sweden and Denmark is an ideal industrial home for PlusTV. With the industrial strength of Boxer and Teracom backing PlusTV we are excited about the growth prospect for our remaining holding in the company.”

For further information please contact:

Gösta Johannesson, Partner, Provider Venture Partners
tel: 070-360 62 10
e-mail: gosta.johannesson@providerventure.com