£333m acquisition of IQGeo by global investment company KKR completed
The acquisition of IQGeo for £333m by global investment firm KKR has now been completed.
Headquartered in New York, KKR now has offices in London as well as in Dubai, Ireland, China, Hong Kong, Brazil, Singapore, Japan and Australia.
Founded in 1976, the company is a major global investor in telecoms and sustainability capabilities, particularly fibre deployment and the electricity grid infrastructure. This includes investing over $21.6bn in technology-focused growth companies since 2014.
It’s not hard to see what they found in IQGeo. Over the past five years the Nine Hills Road company’s share price has increased by more than 900 per cent, with revenues up from approximately £10m in 2018 to over £44m in 2023.
IQGeo’s geospatial software and services support leading operators within the telecoms and utilities sectors to design and operate fibre and electricity networks. It is well positioned for ongoing growth within industries driven by rapidly increasing demand for fibre rollout, as well as the transformation of electricity grid infrastructure and the impact of increasing electrification.
KKR’s ownership will underpin IQGeo’s international expansion, broaden its product range and strengthen its customer relationships. IQGeo will also draw on KKR’s network to strengthen its relationships with customers deploying fibre and developing grid infrastructure, as well as pursue further organic and inorganic expansion opportunities to grow internationally and expand the product range available to its customers.
Rami Bibi, managing director and head of EMEA for KKR Global Impact, said: “In our view, IQGeo is unique in its support for continued global efforts addressing the digital divide and transforming grid infrastructure, which is aligned with KKR’s strong focus of investing behind grid electrification for net zero goals.
“To capitalise on the global growth potential ahead, increased investment and an acceleration of IQGeo’s strategy are imperative, and private ownership under KKR will help facilitate this.”
Richard Petti, CEO of IQGeo, said: “We are committed to the success of our customers and our employees.
“Thanks to them, we have built a thriving business that delivers award-winning innovative software for the telecommunication and utility industries worldwide. I also want to recognise the support of our investors in building the business and this acquisition is a milestone achievement for the company and the valuation makes clear the extent of our success.
“Partnering with KKR now gives us an even greater opportunity to accelerate investment in our people, processes and products and increase our ability to respond to market momentum. It’s also important to us that there is close cultural alignment between KKR’s Global Impact and Technology Growth funds with IQGeo’s focus on innovation and mission to bridge the digital divide and build the net zero energy networks of the future. Their investment will underpin the next phase of growth of IQGeo's exciting journey.”