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GP Bullhound advises Icomera AB on its sale to ENGIE Ineo

Stockholm, 31 May 2017 – GP Bullhound, the European technology investment bank, acted as the exclusive financial advisor to Icomera AB on its sale to ENGIE Ineo, part of ENGIE SA (ENXTPA:ENGI)

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.

ENGIE Ineo is part of the ENGIE Group, one of the world’s largest operators in electricity, natural gas and energy services.

The acquisition of Icomera is an integral part of ENGIE Ineo’s technology and digitalisation strategy and opens up new prospects in the fast-growing market of transport connectivity and smart services. The technology and skills brought by Icomera will complement ENGIE Ineo’s offer of video surveillance, passenger information, and applications for supervision of transport service such as operational support systems and centralised technical management.

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.

For enquiries please contact Per Roman, Managing Partner, at or Carl Wessberg, Director, at

About GP Bullhound
GP Bullhound is a leading technology merchant bank, providing transaction advice and capital to the best entrepreneurs and founders in Europe and beyond. Founded in 1999, the firm today has offices in London, San Francisco, Stockholm, Berlin, Manchester and Paris. The firm’s advisory team has completed over 240 M&A and Capital transactions to date, working with category leaders including Essence, Avito, Delivery Hero, Fjord, King Digital Entertainment, Pingdom, Innogames, Spotify and many more. Through its principal investment team, GP Bullhound provides institutions, family offices and entrepreneurs with access to some of the most ambitious privately-held technology and media companies in Europe. The firm’s events and speaking activities bring together thousands of Europe’s leading digital entrepreneurs and technology investors throughout the year, and its thought-leading research is read by decision makers globally, and regularly cited in leading newspapers and publications. For more information, please visit, or follow on Twitter @GPBullhound

About Icomera AB
Icomera is the world’s leading provider of open Internet connectivity and application platforms for passenger transport and public safety. Its award-winning products are deployed on rail, road and sea, serving millions of Wi-Fi users every week across the globe and providing high-speed access for fleet tracking and mission-critical onboard systems. Icomera is headquartered in Sweden with wholly owned subsidiaries in the United Kingdom, United States, France and Germany, and channel partners worldwide.