Stockholm 2012-10-31
PacketFront Network Products AB acquired by Fiber Access Holding AB
PacketFront Network Products AB, the leading vendor in Scandinavia of access equipment for fiber based broadband networks and former member of the PacketFront Group, was acquired by Fiber Access Holding AB on October 26, 2012.
“We are very enthusiastic about our acquisition of PacketFront Network Products AB, and we are looking forward to continuing to develop the business together with the company management that the company so successfully has established over the past 10 years”, says Eric Severin, chairman of Fiber Access Holding AB and partner in ShortCap.
PacketFront Network Products AB manufactures and supplies world-leading technology for fiber based broadband networks. Since the start in 2001, more than 1.2 million access connections have been delivered using PacketFront Network Products technology. In February 2012, the latest generation of gigabit switches (1000Mbit/s) was introduced and is now in use by city networks and operators in Scandinavia and world-wide.
The ”Fiber Access Holding AB” acquisition is the next natural step in the process to further develop our potential in fiber based broadband. Myself and the whole team within PacketFront Network Products AB look forward to work with Fiber Access Holding in the development of existing and next generation access-products”, says Johnny Hedlund, CEO PacketFront Network Products AB. “For our current customers, this transaction has no practical implications but over time they will see an increased offering of products and features to further lower operational costs and to increase service flexibility in their broadband networks”.
The main owners of Fiber Access Holding AB is the investment group ShortCap, which focuses on entrepreneurial companies with strong potential for growth, CEO Johnny Hedlund, and CTO Stefan Tegenfalk.
