Enea has acquired Aptilo, a privately-held provider of policy and access control solutions for carrier Wi-Fi and IoT, for SEK 92 million which corresponds to an enterprise value of SEK 150 million (US$16.83 million) on a cash and debt free basis.
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.
Aptilo’s solutions have been deployed by more than 100 operators in 75 countries and are sold both directly to operators and indirectly through technology and channel partners. More than half of Aptilo’s total revenue is recurring, and the products are sold either as software licenses, as managed services, or in a cloud-based SaaS (software as a service) model to a growing number of customers.
“I’m pleased to announce this acquisition, which complements Enea in an excellent way,” 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.”
Key figures and facts about Aptilo
- Privately held company with Norvestor V L.P. as the majority shareholder
- Founded in 2001
- Headquartered in Stockholm, Sweden
- Sales offices in Dallas, USA, and Kuala Lumpur, Malaysia
- Net Sales SEK 90.0 million (84.4) in 2019 (2018), based on local Swedish GAAP (K3).
