Agilitas-backed Cibicom acquires Ice Denmark

The terms of the deal were not disclosed. Ice Group said the divestment was in line with the company's plan to focus on the Norwegian market. In February last year, Ice Group sold its Swedish business, Netett Sverige, to broadcasting service Teracom Group for SEK 180m (€17m).

UK-based mid-market private equity firm Agilitas acquired Teracom in 2018 and Relacom as an add-on in 2019. The two telecoms companies were merged to form Cibicom. It drew capital for the main acquisition from Agilitas 2015 Private Equity Fund. 

Cibicom, which owns and operates the nationwide digital TV and radio broadcasting tower infrastructure network in Denmark, will gain control of Ice Denmark's 4G mobile network and customer base. 

The acquisition provides critical mass to Cibicom's current Internet-of-Things (IoT) activity, resulting in significant expansion potential of the company's machine-to-machine IoT connectivity offering, and will allow Cibicom to offer push-to-talk LTE solutions, relevant for both the enterprise market and public safety sector.

Martin Løbel, CEO at Cibicom, said the company was the "perfect complement to Cibicom in several areas". He said: "The company's technology will strengthen Cibicom's current IoT offering, allowing us to control all elements of our infrastructure and the network, while at the same time focusing on creating even better coverage."

Company
Founded in 2014 and based in Glostrup, Net1 Danmark is a mobile broadband provider operating in Denmark. It holds a 450 Mhz licence and operates a 4G network in Denmark, offering wireless broadband services to companies and private households. According to its LinkedIn page, the company has 11-50 staff. 

People
Agilitas – Martin Calderbank (managing partner).
Cibicom – Martin Løbel (CEO).

Advisers
Equity – Lund Elmer Sandager (legal).

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