At the end of 2011, Orkufjarskipti hf. took over the operations of Fjarski ehf., which had been founded in 2000 to operate Landsvirkjun’s telecommunications systems. Landsnet hf. is a 50% owner of Orkufjarskipti hf. in a joint partnership with Landsvirkjun, contributing its own telecommunications assets. At the same time, the company was changed from a private limited company to a limited company, its name changed to Orkufjarskipti hf., its capital increased and a new board elected.