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Icomera acquired by ENGIE Ineo

Mass transit connectivity for a safer world and more attractive public transportation.

Stockholm, May 2017 - GP Bullhound acted as the exclusive financial advisor to Icomera AB on its sale to ENGIE Ineo, part of ENGIE SA (ENXTPA:ENGI). The acquisition of Icomera is an integral part of ENGIE Ineo’s digitalisation strategy and opens up new prospects in the fast-growing market of transport connectivity and smart services.

Icomera is the world’s leading provider of mass transit connectivity solutions for trains and buses with an installed base of more than 2,000 trains and 24,000 buses globally. Icomera serves millions of Wi-Fi users every week in more than 40 countries, delivering in excess of 40 TB of data per day.

Karl-Johan Holm, CEO of Icomera commented: “GP Bullhound has been a competent advisor to us, showing strong commitment and deep expertise throughout the process. We look forward to continuing our journey as a part of ENGIE Ineo, delivering best-in-class connectivity solutions to our customers. Icomera and ENGIE Ineo share the common vision of a safer world and more attractive public transportation. By combining our organisations and our efforts, we accelerate the realisation of a connected journey in the world.”

Carl Wessberg, Director at GP Bullhound, commented: “We are proud to have advised Icomera, a Swedish global leader in Connectivity and Smart Transportation, on this transaction. We are confident that Icomera and ENGIE Ineo will be a great fit, and that Icomera’s products will be a strong contribution to ENGIE Ineo.”

This represents the completion of GP Bullhound’s ninth transaction in 2017 and further emphasizes the firm’s expertise in advising Nordic category leaders in international transactions, following the sale of Rightware to Thundersoft (China), Mag+ to MPS (India), PocketMobile to Trimble (USA), 13th Lab to Facebook (USA) and Pingdom to SolarWinds (USA), among others.

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