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June 2020

Agilitas-backed Cibicom acquires ICE Group’s Danish subsidiary ICE Denmark

Agilitas, the pan-European mid-market private equity firm, is pleased to announce the strategic acquisition of ICE Group's Danish subsidiary ICE Denmark, known in Denmark as Net1, by its portfolio company Cibicom.

As part of the acquisition, Cibicom will gain control of ICE Denmark's nationwide 4G mobile network and customer base, leading to new opportunities to strengthen the company's offerings to the market in several areas.

Cibicom is the owner and operator of the nationwide digital TV and radio broadcasting tower infrastructure network in Denmark. It manages and operates mission-critical communication networks used by the Danish Department of Defence, the police, the fire brigade, and the coastguard. It also provides Internet of Things (‘IoT’) and datacentre solutions.

ICE Denmark holds a 450 Mhz licence (LTE band 31) and operates a 4G network in Denmark, offering wireless broadband services to companies and private households, which covers 98% of the Danish geographical area and 99% of the Danish population. Through a roaming agreement, the service can also be used in Sweden. The acquisition provides critical mass to Cibicom’s current IoT activity, resulting in a significant expansion potential of the company’s machine-to-machine IoT connectivity offering, and will allow Cibicom to offer push-to-talk LTE solutions, which is relevant for both the enterprise market and public safety sector. The acquisition also opens up several other avenues of growth for Cibicom, including secure wireless broadband connections for the remote monitoring of pumps in the utility sector, road administration and for other applications

Martin Calderbank, Managing Partner at Agilitas, commented: “The acquisition of ICE Denmark is an important strategic move that will help Cibicom further develop its critical communication capabilities. This will play a vital part in supporting Cibicom’s commitment to high-quality, reliable, and sustainable infrastructure.”

Martin Løbel, CEO at Cibicom, said: “ICE Denmark is the perfect complement to Cibicom in several areas. Among other things, 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. Through this, we can develop new, innovative, high-quality solutions in several areas for our customers, improving operational stability and cyber security.”

Media enquiries to: Greenbrook - Alex Jones, Matthew Goodman and Clare Glynn

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