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Telenor Spins Off IoT Unit, Partners with Verdane
Published 2 weeks, 1 day ago
Description
Telenor spins off Telenor Connexion IoT business into joint company with Verdane, valued at $875M. The move aims to boost growth and expansion, with Pekka Lundmark as independent chair and Mats Lundquist as CEO. The deal includes an earn-out clause and acquisition of Telenors stakes in BLDNG dot ai and Whereby.
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