- Inteno Group is a developer and provider of fibre products, powered by an open source operating system and software platform
- Unigestion, Simac Techniek and Inteno Group’s management will invest alongside Accent Equity
- During Accent Equity’s holding period, growth initiatives and product investments tripled Inteno Group’s revenue
Accent Equity has announced that a consortium, led by Accent Equity 2017 fund, has agreed to acquire Inteno Group from Accent Equity 2012 and a number of minority shareholders. The consortium comprises Unigestion, Simac Techniek and Inteno Group’s management. The transaction is expected to close at the end of the third quarter.
Headquartered in Stockholm, Inteno Group is a developer and provider of fibre products, powered by an open source operating system and software platform. The group’s product and software offering includes wi-fi routers, gateways and extenders, mesh systems and fibre termination units for home IoT devices.
Since Stockholm-based Accent Equity’s initial investment in 2016, Inteno Group has expanded into new markets and regions and tripled its revenues with the aid of growth initiatives and product investments.
“Inteno has a market leading position and is very well positioned to capitalise on the home digitalisation megatrend,” said Claes Bodell, partner at Accent Equity. “Online services, media streaming, and working from home drives a rapid growth in data consumption and consumer speed requirements – fibre 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.”
“The past five years have been transformational for the group with some fantastic achievements by the team,” said Conny Franzén, CEO of Inteno Group. “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 fibre 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.”