Veratnet
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Veratnet - overview
Established
1993
Location
Belgrade, -, Serbia
Primary Industry
Telecoms
About
Veratnet is a telecommunications service provider in Serbia, specializing in high-speed internet, hosting solutions, and television packages for residential and business clients. Veratnet, founded in 1993, operates as a telecommunications service provider based in Belgrade, Serbia. The company has undergone significant changes, including a transition in ownership when it was acquired by 7L Capital Partners in October 2007 through its holding company Kerseyco Trading Limited, though financial terms were not disclosed. The company is focused on providing a range of services tailored to customer needs.
Veratnet provides a comprehensive array of telecommunications services, including high-speed internet, shared and dedicated hosting solutions, and a variety of television packages. Their offerings cater to individual consumers and businesses alike, with optimized hosting for WordPress websites and SSD hosting solutions for enhanced performance. The company's customer base includes residential users, small to medium enterprises, and larger organizations, all of whom benefit from reliable internet access and diverse entertainment options through its TV packages. For the year 2023, Veratnet reported a revenue of USD 4.
94 mn and an EBITDA of USD 1. 18 mn, reflecting its robust subscription-based model across its internet, hosting, and telephony services. Veratnet is focusing on expanding its service offerings and market presence. The company plans to introduce new products designed to enhance customer experience and engagement, although specific release dates are yet to be announced.
It aims to penetrate new geographic markets, providing services in regions beyond Serbia, with plans to finalize these expansions by the end of 2024. The previous acquisition in October 2007 is expected to support these initiatives as the company leverages its existing infrastructure to scale operations.
Current Investors
7L Capital Partners
Primary Industry
Telecoms
Sub Industries
Telecoms Providers & Services
Website
http://www.verat.net/
Company Stage
Mature - Buyout
Total Amount Raised
Subscriber access only
Veratnet - timeline of key events
Veratnet - financials
| Fiscal Year Ended | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|
| Revenue (USD) | 558,530,000 | 529,056,000 | 549,792,000 | 521,198,000 | - | - | - |
| % Revenue Growth (YoY) | - | (5.3%) | 3.9% | (5.2%) | - | - | - |
| EBITDA (USD) | 120,255,000 | 94,747,000 | 104,834,000 | 107,501,000 | - | - | - |
| Operating Income (USD) | 46,844,000 | 16,406,000 | 19,549,000 | 21,621,000 | - | - | - |
| Operating Margin | 8.4% | 3.1% | 3.6% | 4.1% | - | - | - |
| % EBITDA Margin | 21.5% | 17.9% | 19.1% | 20.6% | - | - | - |
| NET Income (USD) | 18,802,000 | 645,000 | 4,097,000 | 1,871,000 | - | - | - |
| % Net Margin | 3.4% | 0.1% | 0.7% | 0.4% | - | - | - |
Veratnet - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Buyout | Completed | Veratnet | - |
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Veratnet - employee data
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