Stofa, a Danish triple-play operator, has purchased part of Canal Digital’s Danish cable business from Telenor (News - Alert). The enterprise value amounted to more than $2.77 m and Stofa completed the acquisition on October, 31, 2011, financing the deal with its available liquid assets.

“We are very pleased to be able to carry out this acquisition which opens up significant synergies with our existing operations and will also allow us to reach a larger share of the market with our services,” comments Stofa’s CEO Klaus Høeg-Hagensen, in a press release.

According to the acquisition agreement, Stofa will acquire 31 cable networks while Canal digital Denmark retains the antenna business. Canal Digital is a provider of digital TV in the Nordic region to antenna societies via cable and satellite.

Stofa provides approximately 350,000 households with cable TV, 140,000 of which are also provided with broadband. Stofa closely cooperates with 300 antenna associations throughout Denmark in order to deliver these services. In addition, it also sells broadband and IP telephony to end-user subscribers who have subscribed for Pay TV.

The acquired operations representing pure-play cable TV business in Canal Digital Denmark has about 20,000 cable TV customers, 20,000 broadband customers and 6,300 VoIP customers. This is expected to enable Stofa extend its reach and broaden its offerings to customers.

Høeg-Hagensen stated that the purchase of Canal digital increased Stofa's ability to act on the Danish cable TV market. He expressed satisfaction at the completion of the transaction as it paved the way to make Stofa 'both bigger and stronger.'