Telenor and Verdane form $809m IoT joint venture
Telenor has agreed to form a jointly-owned company with Verdane for Telenor Connexion, its managed IoT services business. The transaction values Telenor Connexion at SEK 7.5 billion. The new company will be owned equally, with Telenor and Verdane each owing half of the entity.
Telenor said the partnership is intended to give Telenor Connexion access to long-term growth capital through a more efficient ownership structure. Verdane will provide investment backing and ownership support.
IoT unit spans 200 countries
Telenor Connexion provides managed IoT connectivity services, its services used in products like vehicles, water pumps, and robotic lawn mowers. It has 31 million IoT SIM cards in operation in more than 200 countries and is described by Telenor as a top ten global player outside China.
Telenor has been in the managed IoT space for 25 years. In January 2026, the group consolidated its Nordic IoT operations under one brand structure,...
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