mynth
06/2026

ENIVEST acquired by TELENOR

NORWAY Telecom / Operators EV 1b - 4b NOK

Context

Telenor has entered into an agreement to acquire Enivest, a leading fiber optic operator in western Norway. The transaction encompasses Enivest's entire fiber business, including its telecommunications network, approximately 28,000 customers, and a 34% stake in Årdalsnett, a regional operator serving nearly 3,000 additional customers. This acquisition is part of Telenor's strategy to consolidate the Norwegian broadband market. The company believes that increasing the scale of operators is crucial to ensuring the resilience of digital infrastructure, optimizing investments, and maintaining high-performance services in a market that remains largely fragmented. For Telenor, the acquisition significantly strengthens its presence in western Norway, a region considered particularly attractive for digital infrastructure development. The company plans to leverage Enivest's strong local roots while offering its customers an expanded range of services, including cybersecurity solutions, digital entertainment, and other value-added services. Enivest will continue to operate under its own brand and retain its current management team to ensure operational continuity and preserve existing relationships with local communities and regional customers. Telenor also plans to invest approximately NOK 150 million in integration efforts and network infrastructure upgrades. This investment will enable the company to enhance its services and further solidify its position in the Norwegian market.

ENIVEST, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the TMT (Tech, Media, Telecom) sector (14.8x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Established in 2001 and headquartered in Førde, Enivest is a leading fiber optic operator in western Norway. The company provides high-speed connectivity services to individuals, businesses, and local authorities across a significant portion of the Vestlandet region. Over the years, Enivest has developed a cutting-edge digital infrastructure, enabling it to serve both urban and rural areas, thereby contributing to the reduction of the digital divide in a region characterized by complex geography. Enivest operates an extensive fiber optic network spanning several strategic territories in western Norway and leverages its strong local presence to ensure the deployment, operation, and maintenance of its infrastructure. Its business model is centered on delivering ultra-high-speed internet services, as well as tailored connectivity solutions that cater to the needs of individuals, businesses, and public institutions.

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Historical Financials (NOK)

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REFERENCES

Valuation range: EV 1b - 4b NOK

Revenue range: 250M - 500M NOK

EBITDA range: 100M - 200M NOK

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of ENIVEST by TELENOR are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Target: enivest

Acquirer: telenor