EQT Infrastructure has purchased Inexio, a German fiber optic broadband network provider, from Warburg Pincus and other owners, according to media sources.
While financial terms were not disclosed, the company was estimated to carry a price tag of around €1 billion ($1.1 billion).
Matthias Fackler, partner at EQT, told Reuters that the firm aims to turn the mid-sized Inexio into a large company, focusing on expanding in its existing region of operations and potentially developing its fiber optic network across Germany.
“The potential is huge in this market,” said Fackler.
Predominantly based in Rhineland-Palantine, Bavaria, Baden-Württemberg and Saarland, Inexio services more than 4,000 commercial customers and around 65,000 households in underserved, primarily rural areas across Germany.
Inexio offers a state-of-the-art fiber optic network with more than 5,500 kilometers (3,417 miles) of modern fiber optic lines and operates six wholly-owned data centers, according to Warburg Pincus.
