Cordiant Digital Infrastructure Ltd (LSE:CORD), a specialist in digital infrastructure investment, has formally completed the acquisition of Norkring België, a major player in Belgium's communication and broadcast tower operations.
The €6.2 million (£5.3 million) deal was first announced in November 2023 as a strategic move by Cordiant to strengthen its foothold in the digital infrastructure sector.
Brussels-based Norkring operates a network of 25 communication and broadcast towers, including eight freehold and 17 leased properties.
It is actively involved in trials, supported by the Flemish government, to explore the possibilities of 5G technology.
Norkring also holds two DAB licences and one digital terrestrial TV multiplex licence, further bolstering its position in the digital broadcast sector.
The company provides a range of services, from radio and TV broadcasting to colocation and site-hosting, catering to a diverse clientele including broadcasters, niche communication operators, and mobile network operators.
Cordiant funded the acquisition with existing cash reserves.