Telenor has finalized its acquisition of a majority stake in Swedish broadband provider Bahnhof.

The deal was closed last week, shortly after the transaction got approval from Sweden’s Competition Authority.

As part of the agreement, Telenor has snapped up all the shares in Bahnhof that were owned by Jon Karlung, Andreas Norman and their wholly-owned company KN Telecom AB, plus those by Investment AB Öresund, equating to a total stake of 57.5 percent.

The stake of founders Karlung and Norman were worth 50.8 percent, while Oresund Investment’s stake was 6.7 percent.

Telenor has also secured 87.9 percent of the votes in the company, as it exceeded the mandatory bid threshold of 30 percent of the votes in Bahnhof.

The deal was first announced in July, when Telenor confirmed it agreed to pay SEK 6.1 billion ($610 million).

In the company’s announcement last week, Norwegian telco Telenor said it paid SEK 62 (US$6.25) in cash per share in Bahnhof.

“Bahnhof has built a strong position in fiber broadband, data centers and secure digital infrastructure, with a trusted brand and a strong commitment to integrity. Building on that position requires greater scale and more resources, and we are convinced that Telenor is the right place to bring both. Together, we can offer a broader range of services and build a more resilient digital infrastructure, while preserving everything that makes Bahnhof unique,” said Jonas Edén, CEO of Telenor Sverige AB.

Founded in 1994, Bahnhof serves more than 500,000 customers and approximately 15,000 enterprise customers.

Bahnhof assets include proprietary network infrastructure, access to open networks and five colocation data centers.

It will continue to operate under its own brand, while Telenor said it intends to build on Bahnhof’s market position “while combining the capabilities of both organizations.”