- A consortium led by the investment fund Accent Equity 2017 has signed an agreement to acquire Inteno Group from Accent Equity 2012 and minority investors
- Inteno Group is a leading developer and provider of high-speed fiber products for the connected home, powered by a leading open source operating system and software platform
- Genexis CEO Gerlas van den Hoven, key management, Unigestion, and Simac Techniek will invest alongside Accent Equity
A consortium led by the investment fund Accent Equity 2017 has signed an agreement to acquire Inteno Group from Accent Equity 2012 and a number of minority shareholders. Inteno Group’s management team will co-invest alongside Accent Equity. The consortium also comprise Unigestion S.A. and Simac Techniek N.V..
Inteno Group is a leading developer and provider of high-speed fiber products for the connected home, powered by its leading, hardware agnostic, open source software platform and operating system. The group’s product and software offering includes Wi-Fi routers/gateways, Wi-Fi extenders, mesh systems, and fiber termination units and solutions for a majority of home IoT devices.
Following Accent Equity’s initial investment in 2016, Inteno Group has successfully expanded into new markets and regions and is today a leading European player. During Accent Equity’s holding period, growth initiatives and product investments & innovations have tripled Inteno Group’s revenue. The European market continues to see increasing demand for high speed Internet connectivity in the years to come, driven by a rapid growth in data consumption. It is expected that the number of European homes passed with fiber will grow from 220 million to 317 million over the next five years.
“Inteno has a market leading position and is very well positioned to capitalize on the home digitalization megatrend. Online services, media streaming, and working from home drives a rapid growth in data consumption and consumer speed requirements – fiber based Internet connection is the solution to this. We very much look forward to continuing to support Inteno during the next phase of its successful growth journey”, says Claes Bodell, Partner at Accent Equity.
“The past five years have been transformational for the group with some fantastic achievements by the team. The connected home requires more, both in terms of products and software solutions. Our group is well-suited to support new and existing customers as the European market is entering an intense period of growth. The roll-out of fiber across Europe will be immense in the years ahead and the opportunity to add digital services on top of that infrastructure will require innovative and hardware agnostic software solutions. With this new ownership group, we continue our mission to drive innovation in broadband, IoT, and the always-connected home. We will strengthen our position in the market, expand our product- and software offering, and grow our team and company”, says Conny Franzén, CEO of Inteno Group.
The transaction is subject to certain closing conditions and is expected to close end of Q3.
For more information, please contact:
Claes Bodell, Partner of Accent Equity, +46 70 643 6438, claes.bodell@accentequity.se
Conny Franzén, CEO Inteno Group, + 46 70 770 44 61, conny.franzen@intenogroup.com
About Inteno Group:
Inteno Group, with a history dating back to the early 1990’s, is a developer and provider of high-speed fiber products for the connected home, powered by a leading open source operating system and software platform. The group’s product and software offering includes Wi-Fi routers/gateways, Wi-Fi extenders, mesh systems, fiber termination units and solutions for a majority of home IoT devices. The group has two subsidiary groups, Genexis, which predominantly focuses on the product part of the business, and IOPSYS, which focuses on hardware agnostic open source operating system & software platform. Customers include operators, Internet service providers, network owners, and OEMs within the telecom and IoT industries. The company is headquartered in Stockholm and serves customers across all of Europe including all Nordic countries, Netherlands, Germany, UK, Italy, Belgium, Spain etc. The group employs c. 215 people and has a revenue of c. SEK 1 billion.
www.intenogroup.com
About Accent Equity:
Accent Equity has since 1994 invested in private Nordic companies where a new partner or owner can serve as a catalyst. Our ambition is to invest in and develop the companies to be Nordic, European or Global leaders through a professional, hands-on and long-term oriented approach that results in superior and sustainable returns.
accentequity.se
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