E-Infra Group based in Cluj-Napoca and run by Teofil Muresan transferred half of the shares of NetCity Telecom, a company that develops and manages the underground fiber optic and telecom piping infrastructure in capital Bucharest.
Under the agreement, Meridiam acquired half of the shares, with the two parties jointly ensuring the company’s management and strategy, agreeing on the accelerated development of the Netcity network, E-Infra said in a statement.
Matthieu Muzumdar, Meridiam Chief Operating Officer Europe, said this was Meridiam’s first investment in Romania, adding this project would ease further investments in the digital industry in Bucharest and would also ensure the development of urban solutions in order to improve the quality of life in Bucharest.
Netcity activities consist in designing, building and managing the fiber optic cable network in Bucharest, thus enhancing the safety and urban landscape by burying aerial cables underground.
The Netcity underground network covers 1,760 km on the main routes in Bucharest and connects over 30,000 buildings across the city.