Communications infrastructure player Boldyn Networks struck a deal to acquire Cellnex’s private networks business for an undisclosed sum, a move the latter explained as part of a strategy to focus on its core tower business.
In its statement on the deal Boldyn Networks, which was previously branded BAI Communications, explained the assets being bought largely comprised Edzcom, a Finland-based player focused on industrial private 4G and 5G deployments.
Edzcom has customers in the mining, oil and gas, energy, ports and manufacturing sectors across several European markets. Earlier this year, it struck a deal with Nokia to use private 5G to pilot a range of automated services in a Finnish mining site.
Boldyn Networks noted the planned acquisition would help it tap new markets, with the company targeting Finland, Spain, Germany, Sweden and France. It added the move would also solidify its presence in UK, Ireland and Italy.
In a brief statement on the deal Cellnex said the sale was part of a strategy to focus on “tower-based activities and businesses and their adjacent assets”. It is the company’s latest sale aimed at raising funds to cut debt and comes during a period of corporate upheaval at the infrastructure company.
The deal is subject to regulatory approval and is expected to close in Q1 2024.