TELCO FIRM LAUNCHES SIXTH CAPITAL CITY DATA CENTRE
PRESS RELEASE: Latvian telco Tet has opened its sixth data centre in capital Riga, as it plans to grow its data centre business by 15% per year.
The company has spent €1.4 million on its construction and installing another 60 racks to support increasing business demand.
Tet already exports 75% of its data centre services and plans to grow its overall data centre business turnover by an average of 15% per year in the coming years, it said.
Tet CEO and chairman of the board Uldis Tatarčuks said: “Over the last ten years ICT has become one of Latvia's top export industries and it is undoubtedly one of the fastest growing in Latvia.
“The field of data centre services is also constantly evolving, as evidenced by the increase in the use of cloud services among Latvian entrepreneurs – since 2018 it has doubled.”
He said Tet's data centre market share in Latvia was 30%.
Tet Group's export turnover in the first half of 2021 increased by 46% compared to the corresponding period last year, reaching one-fifth of its total turnover. Integrated IT solutions, including data hosting services in data centres and the cloud, are one of Tet's most important exports.
Latvia's minister of economics Jānis Vitenbergs said at the opening event of the new data centre: “I would like to thank the company for not only maintaining a stable position in the data processing market, but also successfully competing with global players such as Microsoft and Amazon.”
One of Tet's main export markets is Ukraine, where the company has been among the leaders in data centre services market for several years, competing with global players. “In 2020, Tet's market share in the Ukrainian data centre market reached 8%,” said Tatarčuks.
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