Bite Latvia of the Bite group has bought Latvia's Stream Networks and its subsidiary Latnet Serviss. Clearance from Latvia's competition authorities was secured last week, Bite said.
"The deal will allow merging the strengths of both parties – Bite's know-how in development of smart solutions and a reliable network with the experience of Stream Networks and Latnet Serviss in the development and introduction of customized technological solutions," Pranas Puisys, CEO at Bite Lietuva, said in a press release.
The two Latvian companies develop various technological solutions and provide data transmission services.
Stream Networks launched operations in 2007 and purchased one of Latvia's first Internet providers, Latnet Serviss, in 2014. The companies, which currently have a total of 48 employees.
