Ice Group sells Net 1 Denmark to Cibicom

17 Jun 2020

Norwegian-listed Ice Group announced this morning that it has completed the sale of its Danish wireless broadband/IoT network operating subsidiary Net 1 Denmark to Cibicom (formerly Teracom), which owns and operates the Danish national radio/TV broadcast network alongside a nationwide LoRaWAN IoT network, data centres and critical communications systems. Ice Group – backed by largest shareholder, US-based Access Industries – said the divestment was in line with its strategic focus on Norway. The buyer and seller agreed not to disclose the value of the transaction.

Net 1 Denmark (registered as Ice Danmark) is focused on M2M/IoT/critical communications services, and was yesterday awarded a renewal of its national 450MHz cellular licence for a further 16 years (see separate CommsUpdate story today). Its new parent Cibicom is owned by European capital fund Agilitas.

Denmark, Cibicom (formerly Teracom Denmark), Ice Group (formerly AINMT), Net 1 Denmark