STOCKHOLM – Aptilo Networks, the global leader in pre-integrated solutions for control of billing, user services and access in wireless networks including Wi-Fi, WiMAX™ and LTE, announced today the company has signed an agreement to acquire Service Factory, a division of Birdstep Technology listed on Oslo Stock Exchange under the ticker BIRD.
The company also announced that Norvestor V L.P., a leading private equity company, has invested in Aptilo Networks, acquiring the shares of previous financial investors and becoming the majority shareholder.
With the acquisition of Service Factory, Aptilo Networks strengthens its leading position in the field of wireless service management and policy control with the addition of large service provider customers like TeliaSonera, 3 Scandinavia, DU, Eircom and TDC.
“Already a profitable company, Aptilo represents a solid platform for further expansion within the rapidly growing area of helping operators to manage their mobile data traffic,” said Jarle Gundersen, Partner in Norvestor and new Chairman of Aptilo.
Service Factory, which brings their deep experience in working with European mobile operators, will also further add to the development of Aptilo’s LTE and Policy Charging and Rules Function (PCRF) solutions.
“With the support from a strong and able investor as Norvestor, Aptilo will be able to reach the ambitious goals we have in place to leverage this growing market for service management and policy control for wireless networks,” said Torbjorn Ward, CEO, Aptilo Networks. “There are strong synergies between Aptilo and Service Factory, this is one of the rare occasions when the whole is greater than the sum of its parts.”
“With Aptilo, being a global market leader based in Sweden, we have found the perfect home for our Service Factory division with all their employees and the most important customer located in Sweden,” said Torbjorn Sandberg, CEO and President, Birdstep Technology.
About Aptilo Networks
Aptilo Networks is the global leader in pre-integrated management solutions for control of billing, user services and access in Wi-Fi, WiMAX™ and LTE networks. Aptilo has become the provider of choice for service providers, enterprises and municipalities in need of a rapidly deployable, scalable service management and policy control solution for wireless networks. Aptilo’s solutions have been deployed in more than 50 countries. For more information, please visit www.aptilo.com.
About Norvestor Equity
Norvestor Equity AS is a leading private equity company focusing on lower mid market buyouts in the Nordic region. The team has worked together since 1991 making it one of the most experienced private equity teams in Norway, having executed 44 investments and participated in 169 add-on acquisitions and divestitures. Norvestor Equity is the investment adviser to Norvestor IV, L.P. and Norvestor V, L.P. The two funds currently have nine portfolio companies. Read more at www.norvestor.com.
For further information please contact:
Torbjorn Ward, CEO, Aptilo Networks AB
Phone: +46-733 224 608
Jarle Gundersen, Partner, Norvestor Equity AS
Telephone: +47 92 88 98 38