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Dutch telecom giant KPN has signed a deal to acquire Kabeltex, a company a fibre network operator and internet service provider on the island of Texel
In a press release, KPN noted that Kabeltex’s network currently passes 18,000 homes, with more fibre being deployed in the regions of Den Helder, Hollands Kroon, and Schagen.
Financial details of the deal have not been disclosed, and the deal is still subject to regulatory review.
In 2021, KPN and APG closed the transaction on a joint venture named Glaspoort, through which they will invest over €1 billion in fibre rollout over five years, connecting around 750,000 homes and 225,000 businesses with fibre.
Earlier this month at the company’s capital markets day, KPN announced a new strategic direction of “Connect, Activate & Grow”, with the company set to invest nearly €5 billion over the next three years on connectivity, AI, and sustainability initiatives.
In more detail, the investment will involve investing around €1.2 billion in the company’s networks annually until 2026, lowering to below €1 billion in 2027 once their goal of 80% fibre expansion by 2026 is achieved.
“We have delivered on the main ambitions of our Accelerate to Grow strategy launched end-2020. Our top line has returned to sustainable growth across all segments and the fibre roll out has progressed according to plan, further accelerated by our JV Glaspoort,” said KPN CEO Joost Farwerck.
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