Pivot has acquired Umeå-based COS Systems, a leading provider of software to plan, deploy and operate modern broadband networks.
Founded in 2011, COS Systems has today a strong and established customer base in the Swedish market for open access networks. At the same time, the company is expanding with new customers on several continents, not least in North America, where broadband coverage is in many respects due for modernization and where fiber buildout is now increasing. The global Covid-19 pandemic has demonstrated the importance of a robust broadband infrastructure, which is now accelerating the expansion of broadband networks in many countries.
COS Systems’ international expansion will be supported on the Board of Directors by Stefan Georgi as Chairman, with significant experience from the sector as an industrial and strategic advisor, and Mikael Philipsson as a member, who has previously been CEO of IP-Only and has deep sector expertise.
“I am very proud of what we in the team at COS and our previous owners have achieved so far. Now that the market is moving towards an even faster expansion, it is a perfect time to bring onboard new owners. Pivot contributes with the experiences, resources, contacts and new perspectives that will take COS to the next level”, comments CEO Peter Lidström.
“We see a good owner in Pivot that has acquired COS Systems. With Pivot as new owner, COS Systems will be provided additional resources, expertise and networks to accelerate and realize the company’s full potential”, comments Gunnar Ekström, Chairman of the Board of Ekström Invest AB, which represents the sellers.
“COS Systems has shown stable growth, good profitability and built up a very strong market position. What we are most enthusiastic about, however, is the company’s unique offering for the open access network market, combined with the increasing pace of investments in this type of network, fueled by recent evidence of the difficulties arising from substandard broadband infrastructure. With the resources and expertise we add, we will accelerate investments in innovation and product development in Sweden and scale sales in international markets. We are deeply impressed by what Peter and all the employees at COS Systems have achieved so far. We look forward to contributing to COS Systems’ continued journey and together take the company to new heights “, comments Niklas Hofverberg, Partner at Pivot Partners AB.
Alongside Pivot, employees and board members will invest in the company. The terms of the deal are not disclosed. For further information, please contact:
Niklas Hofverberg, Partner, Pivot Partners AB
+46 (0)70 190 75 58
Peter Lidström, VD, COS Systems AB
+46 (0)70 656 58 72
About COS Systems:
COS Systems is a leading provider of software to plan, deploy and operate modern broadband networks that support services from one or more providers, using a powerful yet simple self-service interface. Specializing in True Open Access Networks, COS Systems takes customer needs and delivers innovative software solutions that streamline operations, accelerate revenue, and deliver more satisfied subscribers. Learn more about COS Systems at www.cossystems.com.
Pivot is a Swedish private equity-fund, investing in- and developing qualitative, high-potential companies in the Nordics, with a focus on development and growth initiatives. We invest capital and engagement – lots of engagement. We support our investments with experiences, processes and networks to instill new energy and capabilities to develop and capitalize on dormant opportunities through Innovation. We like local companies. The explanation is simple; Less Talk – more action. We believe in retaining the local footprint, whilst growing the business on a global scale – strengthening the region by creating job opportunities. For more information, visit www.pivot.se.