Freedom Telecom acquires satellite operator Astel
Freedom Telecom, a subsidiary of Freedom Holding, has acquired 100% of shares in the private company Astel Group for $22.4 million, according to a company statement.
Astel Group is the parent company of satellite operator Astel, founded in 1993. The company has established itself as a reliable player in the telecommunications market, offering services ranging from traditional infrastructure to modern digital solutions and satellite systems.
«This deal is a strategic move for us. It will solidify our position in the industry and open up new opportunities for innovation. We believe this merger has the potential to create new solutions that will benefit our customers and boost the market,» said Freedom Telecom CEO Kairat Akhmetov.
Meanwhile, Astel continues to operate as usual, though it will undergo a gradual transformation, embracing new technologies and business processes. The new owner does not plan any layoffs, as all changes will be implemented smoothly according to schedule. Furthermore, the Astel brand will remain, while its infrastructure and networks will be leveraged to create synergies and increase the efficiency of Freedom Telecom, the company said in a statement. The transaction, which complies with all requirements of Kazakhstan’s legislation, has already been approved by national regulators.
«We’re convinced that the merger is a logical step in our multi-year history of growth. The combination of resources, knowledge and strategies of both companies will allow us to reach new heights in customer service, project implementation and the development of innovative solutions,» said Astel CEO Vladimir Breusov.
With a staff of more than 400 specialists, Astel operates 19 branch offices and maintains a client base of 4,000 terminals.
Freedom Telecom is a telecommunications operator that has been developing an advanced fiber optic network from scratch. Over the past two years, the company has built more than 5,000 kilometers of fiber. It is also the national operator of Open Wi-Fi, which is installed at 150 locations across Kazakhstan, including airports, shopping and entertainment centers, hospitals, schools, public gardens and other public areas.
The company is actively developing services for home internet and fixed wireless access (FWA) technologies. Among its major projects are the construction of the West–East fiber optic highway and Tier 3 data centers for storing and transferring international data traffic.
