Maj Invest Acquire Danish Software Provider Icotera
Icotera and Maj Invest Equity have entered a partnership to support the continued growth and internationalisation of the company. Maj Invest Equity’s recently established fund, Maj Invest Equity 5, acquires 75% of the shares in Icotera while the current owners, CEO Peter Lund and CTO Kim E. Jørgensen, reinvest the remaining 25%.
Icotera has formed strong customer relations due to its high competencies in development of hard- and software solutions customised for the customer’s specific needs. The company’s fiber-to-the-home solutions are characterised by a strong functional design, high reliability, and software with built-in monitoring and analytics capabilities that optimise the end-user’s experience of the high-speed fiber connection in relation to high-speed internet, TV, telephony, and smart home offerings. Icotera’s solutions are sold in Scandinavia, Germany, Switzerland, and the UK among other markets. The European fiber-to-the-home market is expected to grow substantially for many years to come, creating a solid foundation for Icotera’s continued growth.
CEO and former majority owner, Peter Lund, is looking forward to the cooperation and partnership with Maj Invest Equity.
“We are proud of the journey Icotera has been on since its foundation 10 years ago and are happy to welcome a partner like Maj Invest Equity onboard. We are confident that in cooperation we will be able to develop the company further and take it to the next level. Together with Maj Invest Equity we will reassure that our customers are offered the best and most value-adding solutions and that the company realises the large growth potential in the European markets”, says CEO Peter Lund.
Maj Invest Equity sees significant potential for further internationalisation and growth in Icotera supported by its product development competencies and continued roll-out of fiber on the company’s markets.
“Icotera stands on a solid foundation and has within a relatively short period of time evolved into a significant player in its market. We believe that the company is well-positioned to profit from the continued fiber roll-out in Europe due to its large customer focus and strong technical capabilities. We share the Icotera management’s strategic visions and are looking forward to start the next phase of the company’s growth journey together with management and the employees”, says partner in Maj Invest Equity, Jan Hove Sørensen.
Icotera was founded in 2007 and is today among the leading European developers of gateway and software solutions sold to fiber network operators. The company is headquartered in Holte, Denmark with its R&D facility situated in Poland. Through a solution and customer-oriented business approach Icotera has become the Danish market leader with established sales in multiple European markets. In recent years the company has generated high organic growth rates driven by unique hard- and software solutions tailored to individual customer needs and strong growth in the European fiber-to-the-home market.
Source Icotera’s press release