Mediafon establishes holding company to further boost profits

Mediafon, Telecommunications and IT Company, operating in 4 continents with strong presence in the Baltics, establishes holding company to further boost profits, Arūnas Babrauskas, the CEO at Mediafon and Member of the Board said Thursday.

‘Mediafon has demonstrated strong growth for more than over a decade. Notwithstanding other business activities, there are two major, rather different areas of our business today - specialized carrier-level IT solutions with related professional services and voice traffic transit services.  In order to manage and develop them more efficiently and expand our business even further, we decided to establish a holding company’, the CEO and Member of the Board, A.Babrauskas said.

According to Mr. A.Babrauskas, two subsidiary companies also will be established - Mediafon Carrier Services and Mediafon Datapro.

Mediafon Carrier Services will continue to provide wholesale voice traffic transit services to customers in Europe, CIS, Asia and Middle East countries and beyond. As a separate company Mediafon Carrier Services will establish new interconnections, strengthen its positions in main markets and continue to increase company’s traffic volumes, revenue and market share.

Mediafon Datapro will improve and boost Mediafon business development in the field of consulting, planning, development, implementation and operations of carrier-level, high performance IT systems, like the Number Portability Centralized Database, National Numbering Management and other NUMLEX (www.numlex.com) family products.

Both Mediafon Carrier Services and Mediafon Datapro will be fully owned and controlled by Mediafon and will continue to serve customers around the globe.

About Mediafon

Mediafon is one of the leaders of number portability solutions in Europe by the amount of administered numbers and one of the largest carriers in terms of traffic minutes and revenue not only in Lithuania, but also in the Baltic States.

Mediafon provides services to more than 280 million subscribers, 200 operators, services providers and telecommunication regulation authorities worldwide.

Total earnings of Mediafon reached 35.43 million euros in 2014 and grew by 41.92 percent, compared to 2013.

Mediafon is controlled by one of the largest business groups in the Baltic States - MG Baltic Group, with a total group sales of 578 million euros in 2014.

Mediafon was established in 1998. The headquarters of Mediafon is in Vilnius, Lithuania.