The European Commission has cleared Verdane’s acquisition of joint control of Telenor Connexion and sole control of BLDNG.ai under the EU Merger Regulation.
Verdane IoT TopCo AS and Telenor ASA will take joint control of Telenor Connexion AB, a Sweden-based company, while Verdane will take sole control of BLDNG.ai AS, a Norway-based company, the Commission announced on Thursday.
The deals are linked and will be treated as a single transaction under the EU’s merger rules.
The Commission said the transaction mainly concerns internet-of-things (IoT) connectivity and related data analytics services — technologies that connect devices such as sensors or machines to the internet and analyse the resulting data.
No competition concerns found
The Commission concluded the deal would not raise competition concerns because the companies would have limited market positions after the transaction.
The case was assessed under the EU’s simplified merger review procedure.
Further details are listed in the Commission’s public case register under case number M.12476, according to information published on its competition website.
