Latvian telecommunications company Tet, previously Lattelecom, 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 EUR1.4 million on its construction and installing another 60 racks to support increasing business demand.
"Latvia is currently experiencing rapid growth in both data centres and the cloud, the country is also a cloud exporter. The company exports 75% of its data centre services to customers outside the country. Inside the country, 20% of Latvian businesses that do not use data centre services yet are planning to start doing so," it said in a press release.
Tet plans to grow its overall data centre business turnover by an average of 15% per year in the coming years, it added. As the Latvian incumbent telecoms provider, Tet is majority-owned by the Latvian government.
“Tet’s data center market share in Latvia is 30%, and we are the most recognizable data center service provider, moreover, two-thirds of data center services are exported. The Tet Group’s export turnover in the first half of 2021 increased by 46% compared to the same period last year, reaching one-fifth of the total turnover. Integrated IT solutions, including data hosting services in data centers and the cloud, are one of Tet’s most important export directions," said Uldis Tatarčuks, CEO and Chairman of the Board of Tet.
“Tet’s market share in the Ukrainian data center market reached 8% in 2020. One of the reasons why Latvia has established productive and successful cooperation with Ukraine is also the support from the Latvian Embassy in Ukraine,” he added.
Tet began its data center operations in 2000, with a 20 rack facility on Keldiša Street in Riga, and now has 400 racks in six data centers, the release noted.