KPN has reached agreement to sell its German subsidiary SNT Deutschland AG (“SNT”) to LIVIA Group, an industrial holding company based in Munich and Vienna, for an undisclosed consideration. The transaction is in line with KPN’s strategy to focus on its core footprint.

SNT provides contact center outsourcing solutions to business clients. In 2014, SNT generated revenues of approximately EUR 90 million with approximately 2,900 FTEs.

KPN expects to close the transaction in the first quarter of 2015, subject to customary closing conditions.

KPN Telecom NV (NYSE: KPN)