Livingstone has acted as sole financial advisor to KAMIC Group in relation to the divestment of Inteno Broadband Technology AB to Accent Equity. Inteno is a leading developer of innovative gateway products with related software solutions.
Inteno has experienced strong financial development during recent years and generates turnover of approximately SEK 350 million. The company sells in-house developed gateways, and software solutions that can be used on Inteno’s, as well as competitors’, hardware. Through high-qualitative products and solutions, a high technical competence and long commitment to the segment, Inteno has managed to assert itself as the leader in the Nordic market.
“Inteno is a well-managed company with a strong market position and great potential. However, Inteno’s current and future business is a bit outside our core business. The sale of Inteno is a step in our strategy to strengthen the focus on fewer businesses and at the same time create financial flexibility for future strategic acquisitions,” says Fredrik Celsing, President and CEO at the KAMIC Group.
“With a unique position in a fast developing communications segment, Inteno is well positioned to leverage on the development of ‘Internet of Things’ as well as increased fibre penetration,” says Niklas Sloutski, CEO of Accent Equity Partners. “There is potential for pursuing both organic and acquisitive growth initiatives, strengthening Inteno’s position outside of the Nordic markets.”
Livingstone has advised KAMIC Group throughout the transaction, assisting from preparations to marketing, negotiations and structuring of the transaction.
“We’re very happy with how Livingstone has managed this process. The combination of giving the right strategic advice and leading the transaction with impressive attention to detail has been important for completion of this transaction,” says Fredrik Celsing.
“The Inteno transaction is another milestone in the effort to further strengthen our position as a leading advisor in the Nordic media and technology sector. The process clearly demonstrates our ability to leveraging Livingstones international infrastructure in order to deliver value and identify the right buyer for Inteno’s next growth phase,” says Anders Jacobson, Partner at Livingstone.
“We reached out to a broad range of potential acquirers, as we saw Inteno’s highly scalable software platform offering had global potential. This, along with its leading regional market position, made Inteno an attractive target for both large multi-national strategic acquirers as well as regional and global financial sponsors,” Anders Jacobson concludes.