Binder Groesswang, working alongside lead counsel Bird & Bird, has advised European investment fund Cube Infrastructure Fund II on the acquisition of a majority stake in Switzerland's Heliot Group.
Financial details were not disclosed.
According to Binder Groesswang, “as part of the combined transaction, Cube indirectly acquired a strategic majority of 86% of the shares in the companies of the Heliot Group. At the same time, Cube's investment in the Heliot Group enables the Swiss company to acquire Sigfox's 0G network in Germany. This means that the Heliot Group now combines the 0G networks of the four countries Germany, Austria, Switzerland, and Liechtenstein, making the Heliot Group the operator of the largest 0G network in Europe. Cube's goal is to accelerate the growth of this essential and exclusive IoT infrastructure in Europe and especially in the DACH region.”
Heliot, founded in Switzerland in 2017, is the exclusive operator of the Sigfox-IoT-LPWA network in Austria, Liechtenstein, and Switzerland. The Low-Power-Wide-Area radio standard uses a low-frequency radio technology for Internet-of-Things, which can transport messages over long distances with low radiation, at low cost and with low battery consumption.
Binder Groesswang’s team included Partners Gottfried Gassner and Johannes Barbist, Senior Associates Mona Holzgruber, Regina Kroll, and Johannes Bammer, and Associate Nina Niederstrasser.
Binder Groesswang was unable to provide additional information on the matter.