Aspirity Partners to acquire majority stake in Danish IoT company Onomondo for over €100M

London-based private equity firm Aspirity Partners has agreed to acquire a majority stake in Danish IoT company Onomondo in a deal worth more than €100 million. The transaction includes additional investment from Denmark’s state fund EIFO and aims to accelerate Onomondo’s global expansion and product development.

Deal Details

London-based private equity firm Aspirity Partners has agreed to acquire a majority stake in Danish Internet of Things (IoT) company Onomondo, according to The Next Web. The transaction is part of a combined investment exceeding €100 million, which includes additional capital from Denmark’s state investment fund, EIFO. EIFO has been a backer of Onomondo since 2021 and is increasing its stake as part of this deal.

Aspirity Partners, which focuses on European tech services and fintech investments, closed its first fund at over €875 million last year. This acquisition marks the firm’s first investment in the Nordic region. The deal is pending regulatory approval and is expected to close in the first quarter of 2027.

Onomondo’s Business and Growth Plans

Onomondo provides IoT connectivity solutions, offering direct access to nearly 700 mobile networks worldwide. The company serves over 500 businesses across more than 100 countries, including major enterprises such as Maersk, Carlsberg, and Husqvarna.

The company’s product lineup includes SoftSIM, a software-based SIM card, and a private LTE network developed for Maersk. Onomondo describes the LTE network, deployed across more than 450 ships, as the largest of its kind at sea. According to The Next Web, Maersk has highlighted the benefits of tracking cargo continuously during voyages, rather than only at fixed points along shipping routes.

The new investment will be used to fund international expansion, additional network infrastructure, and the development of new products.

What this means

Lazyfounder analysis — our interpretation, not reported fact.

This acquisition signals growing private equity interest in specialized IoT infrastructure, particularly in Europe’s tech ecosystem. Onomondo’s focus on seamless global connectivity—demonstrated by its partnerships with large enterprises like Maersk—positions it as a key player in the IoT space. For Aspirity Partners, this deal represents a strategic entry into the Nordic market, which has become a hub for tech innovation and scaleups. The involvement of Denmark’s state fund EIFO also underscores the role of public investment in supporting high-potential startups. While the deal’s success hinges on regulatory approval, it reflects a broader trend of consolidation and scaling in the IoT sector, where connectivity and integration capabilities are increasingly critical for enterprises.

Key takeaways

• Aspirity Partners is acquiring a majority stake in Onomondo, marking its first investment in the Nordic region.
• The combined investment exceeds €100 million, with participation from Denmark’s state fund EIFO.
• Onomondo’s technology is used by over 500 businesses, including Maersk, Carlsberg, and Husqvarna.
• The company’s products include SoftSIM and a private LTE network for Maersk, described as the largest of its kind at sea.
• The deal is expected to close in Q1 2027, subject to regulatory approval.

FAQ

What is Onomondo?

Onomondo is a Danish IoT company that provides global connectivity solutions, including software-based SIM cards and private LTE networks. It serves over 500 businesses across more than 100 countries.

Who is acquiring Onomondo?

Aspirity Partners, a London-based private equity firm focused on European tech services and fintech, is acquiring a majority stake in Onomondo.

What is the value of the acquisition?

The combined investment in Onomondo exceeds €100 million, including capital from Aspirity Partners and Denmark’s state fund EIFO.

When is the deal expected to close?

The acquisition is pending regulatory approval and is expected to close in the first quarter of 2027.

What will Onomondo use the new investment for?

Onomondo plans to use the investment to expand internationally, invest in additional network infrastructure, and develop new products.

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