Providence Equity Partners has entered into an agreement to acquire Bite Finance International BV from MidEuropa, positioning itself to leverage Bite's strong market presence in the Baltic telecommunications sector.

Information on the Target

Bite Finance International BV, commonly referred to as Bite, operates as a prominent mobile telecommunications provider in the Baltic region, specifically ranking as the second largest in Lithuania and third in Latvia. The company has positioned itself to cater to the increasing demand for high-quality network experiences and outstanding customer service. Offering a diverse array of mobile services, along with internet and data solutions, Bite serves both business and residential clients thanks to its extensive nationwide coverage.

Under the stewardship of MidEuropa, Bite has experienced substantial growth and has significantly invested in the deployment of 3G and LTE networks across its operational territory. The company’s leadership team, led by CEO Frederick Hrenchuk, has been pivotal in establishing a customer-centric approach, thereby setting a standard of excellence in the region.

Industry Overview in the Baltic Region

The mobile telecommunications industry in the Baltic countries is characterized by a robust competitive landscape, driven by rapid technological advancements and a growing consumer appetite for high-speed connectivit