Enea has announced the acquisition of Aptilo.The total consideration amounts to SEK 92 million which corresponds to an enterprise value of SEK 150 million on a cash and debt-free basis. The acquisition will be financed through cash and bank loan and is expected to be earnings per share accretive in 2021.
“I’m pleased to announce this acquisition, which expertly complements Enea,” says Jan Häglund, President and CEO of Enea. “Aptilo is a leader in Wi-Fi and IoT connectivity management. The acquisition strengthens our data management portfolio, expands our reach with existing and new customers, and creates interesting business opportunities in the fields of 5G, Internet of Things, and SaaS.”
“I’m glad to join Enea that has a strong position as a supplier of innovative software products for 4G and 5G mobile core,” says Paul Mikkelsen, CEO of Aptilo. “Our solutions will be an excellent addition to Enea’s core network portfolio, as the combination of 5G and Wi-Fi 6 creates a strong and unique offering to the market.”
Aptilo will continue to operate under its brand as a business unit within Enea, and the business unit will be headed by Paul Mikkelsen.
PwC has acted as financial advisor and Setterwalls as legal advisor for this acquisition.
Aptilo’s flagship product is the Aptilo Service Management Platform (SMP), a carrier-class system for management of data services, with advanced functions for policy and access control. Aptilo SMP is used in large-scale deployments of carrier Wi-Fi, while Aptilo SMP IoT is a solution for connectivity and security management over both cellular and Wi-Fi technologies.