– Aspirity Partners has signed a definitive agreement to acquire a majority stake in Onomondo, a global IoT infrastructure and connectivity company.
– The transaction represents a combined investment of more than €100 million in Onomondo.
– The deal follows nearly a year of bilateral engagement, resulting from Aspirity’s targeted thematic investment strategy.
– Onomondo is headquartered in Copenhagen and provides IoT infrastructure designed to support the growing number of connected devices and edge intelligence applications.
– The company has native access to nearly 700 mobile networks worldwide, giving enterprises greater control, flexibility and orchestration of connected assets.
– Onomondo operates an end-to-end proprietary technology stack spanning devices, Radio Access Networks (RAN) and the cloud, supported by patented Cloud Connectors.
– Its technology includes SoftSIM and the ability to deploy hybrid public/private networks, including what is described as the world’s largest private LTE network at sea across more than 450 Maersk vessels.
– Ralph Choufani, Co-Founder & Partner at Aspirity Partners, said Onomondo has built a “genuinely exceptional and unique platform” and that Aspirity aims to support its international growth alongside the founders and EIFO.
– Joe O’Mara, Founder & Managing Partner at Aspirity Partners, said the investment is Aspirity’s first in the Nordic region as part of its pan-European strategy.
– Rasmus Jensen, CEO of Onomondo, said Aspirity recognised the company’s structural differentiation and its vision to provide a unified infrastructure layer connecting devices, networks and the cloud globally.
– The new investment will fund international expansion, infrastructure deployment and continued development of Onomondo’s proprietary technology, while supporting new commercial opportunities across the global IoT market.
– EIFO, Denmark’s sovereign investment fund and an Onomondo investor since 2021, will increase its investment alongside Aspirity.
