Post by Telenor

Building a stronger global IoT player🌍 Today, Telenor takes a significant step in our IoT journey. We are partnering with Verdane to establish a jointly owned 50/50 company built around Telenor Connexion/Telenor IoT – one of Europe's leading managed IoT providers, with 31 million SIMs in operation and delivery to more than 200 countries. The transaction values Telenor Connexion at SEK 7.5 billion. The IoT market is growing fast. Customers are becoming more global. The bar for scale, reliability, and delivery capability keeps rising. To lead in this environment, you need more than a strong foundation – you need the right partner and the right pace. Verdane brings capital, active ownership experience, and a strong track record in scaling industrial technology companies. Combined with Telenor's connectivity infrastructure, customer relationships, and industrial expertise, this partnership is built to compete at the highest level. Mats Lundquist continues as CEO of Telenor Connexion, ensuring continuity and momentum. Pekka Lundmark joins as Independent Chair. This transaction reflects Telenor's broader strategy: developing and scaling businesses through active partnerships – creating long-term value for our shareholders and the customers we serve. We’re looking forward to what comes next! Read more in the press release below👇