| Starman | |
| Industry: | Cable television Internet service provider IP Telephony |
| Foundation: | 1992 |
| Location: | Tallinn, Estonia |
| Defunct: | 2018 |
Starman was an Estonian cable television and Internet service provider company founded in 1992 and located in Tallinn. Since December 2016, Starman Estonia is wholly owned by Elisa.[1] [2]
Starman was the largest cable television company in Estonia[3] and in the Baltic countries.[4]
Starman was founded in 1992 by Peeter Kern and Indrek Kuivallik.[5] Peeter Kern served as the company's CEO until his unexpected death in 2014.[6] [7]
In 2013, the Swedish investment company East Capital Explorer bought 51% of Starman's shares from the company's founders.[8]
In 2015 Starman bought the Lithuanian telecommunications company Cgates, with funds from the majority shareholder East Capital Explorer,[9] but the Lithuanian branch was again separated in a later acquisition.
In March 2016, East Capital Explorer intended to sell its 63% share to American investment firm Providence Equity Partners for €81 million,[10] but Starman's minority shareholder Polaris Invest (owned by founder Indrek Kuivallik) used their pre-emptive rights to make the purchase instead.[11] [12] In December 2016, Starman Estonia was wholly acquired by Finnish telecommunications company Elisa for €151 million; this deal did not include the Lithuanian branch.[13]