The acquisition primarily covers Edzcom, a Finland based company that that designs, builds, and operates private 4G and 5G networks.
Edzcom’s mobile private network solutions offer wireless connectivity for enterprise automation, robotics, and real-time remote control and monitoring.
The acquisition means that Boldyn expands its neutral host European presence to new marets in in Finland, Spain, Germany, Sweden and France.
Boldyn said it will now be better equipped to provide existing customers with private networks solutions in Europe and the US.
“Boldyn Networks is leading the way in bringing private networks to our customers so that they can meet all their operational and connectivity challenges”, said Igor Leprince, Group CEO of Boldyn Networks.
“Edzcom’s team capabilities, impeccable reputation and recognised expertise are an important addition to our team to capture the potential of this market across continents. From venues and wind farms to ports and manufacturing sites, we are building upon being the partner of choice for 5G private and converged network infrastructure projects,” Leprince continued.
Edzcom’s current projects are predominantly focused on industrial clients in manufacturing, ports, oil and gas, energy generation, and mining. It has experience of over 50 implementations across the Nordics and other European markets.
“Cellnex has enabled us to expand from the Nordics to the largest countries in Europe. We are excited about the opportunity to continue our rapid growth now under Boldyn Networks,” Mikko Uusitalo, CEO of Edzcom said.
“Boldyn is a great company who is now acquiring a strong, senior team with experiences from over 50 deployments across the UK and Europe. We share the same vision and I am convinced that now as one team we’ll consolidate our market leadership in bespoke private mobile networks, expand geographically and stay committed to customer excellency,” Uusitalo said.
Boldyn said that Edzcom’s solutions helps unlock productivity and growth and offers continuity and security for business-critical operations.
Research from GSMA conducted in June 2023 has suggested industrial private 5G network revenue opportunities could reach $109.4B globally by 2030.
The transaction is subject to regulatory and other consents and is expected to close in Q1 2024.
DLA Piper acted as legal advisor to Boldyn Networks. Bird & Bird acted as legal and PWC as financial and tax advisor to Cellnex Telecom and Edzcom.
