News and events

On Monday, the 31st of May, Latvijas Mobilais Telefons Ltd. (LMT) and the owners of the data transmission network and IT security solutions provider Santa Monica Networks (SMN), signed an agreement on the purchase of shares; as a result, LMT will own 100% of SMN. Completion of the transaction depends on permission from the market regulators in Latvia and Lithuania.

The transaction will allow both companies to introduce fifth generation network solutions more quickly and efficiently. Santa Monica Networks Board Chairman Uģis Bērziņš: “We have been driving innovation for many years by introducing the latest technologies in the Latvian market. Together with LMT, we will be able to take innovation to the next level by accelerating the development of various 5G business solutions and enabling more customers to have access to the most advanced technologies and corporate-level technology solutions.”

LMT President Juris Binde: “For a long time, LMT has been more than a mobile communication service provider. We have also been enabling our customers to implement complex business transformation tasks with the help of IT solutions. We have ‘Innovator DNA’, as does Santa Monica Networks. By combining LMT’s experience in mobile communication solutions with the capacity of an experienced developer of data transmission networks and IT security solutions, we will become a leader in digital transformation. Together, we will be the best partner in digitalization processes for any public sector organization or private sector company.”

“Livonia Partners invests in companies that are leaders in their markets and have teams of courageous entrepreneurs and managers. Santa Monica Networks is precisely this kind of company. Santa Monica Networks in Latvia was founded in 2003 by Uģis Bērziņš, who, based on his vision for technology development and their role in customers’ businesses, has built a market leader in networking solutions, together with an excellent team. We are grateful for the opportunity to support the Santa Monica Networks team with financial capital and our knowledge. We are convinced that the company will reach new heights as part of the LMT group,” states Kristīne Bērziņa, founding partner Livonia Partners, the current majority owner of Santa Monica Networks.

The companies plan to continue operating as separate legal entities. The transaction will be evaluated by Latvian and Lithuanian competition regulators.