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May 22 (Reuters) - Nordic telecoms firm Telia said on Monday it was buying Finnish cloud services firm Nebula from private equity company Ratos in a 165 million euro deal.
* Telia says buys 100 pct of Finland’s Nebula Top at an enterprise value of 165 million EUR ($185 mln) on a cash and debt free basis.
* Telia says expects synergies above 10 million euros within three years from cross sales and production cost savings.
* In 2016 Nebula had net sales of EUR 35.1 mln and an adjusted EBITDA of EUR 13.5 mln.
* Based on its 2016 results, the purchase price corresponds to an EV/EBITDA multiple of 12.8x, not considering synergies.
* Telia says deal is subject to approval from the Finnish Competition and Consumer Authority and is expected to be completed in the third quarter of 2017.
* Says Nebula’s 145 employees serve a customer base of approximately 44,000 who generate 90 pct subscription-based recurring revenues.
* Ratos says divestment generates a net exit gain of approximately SEK 500 mln, an average annual return (IRR) of approximately 37 pct and a money multiple of 3.3x.
* Telia is gradually abandoning its central Asian markets, hit by years of investigations into alleged corruption and problems accessing cash in distant countries, to focus on its Nordic and Baltic operations.
* Telia share rise 0.1 pct just after market opening in Stockholm on Monday, while Ratos is up 0.7 pct. Source text for Eikon: Further company coverage: ($1 = 0.8938 euros) (Reporting by Helena Soderpalm; editing by Johannes Hellstrom)
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