KNL Networks was acquired by Telenor

KNL Networks, an Oulu, Finland-based provider of smart IoT services and global network coverage, announced that it was acquired by the Norway-based Telenor Group.

The deal, which has financial details undisclosed, was made thorugh the subsidiary Telenor Maritime.

Telenor Maritime is an established provider of secure connectivity to cruise, ferry, and offshore industries. Combining the competences of both KNL and Telenor Maritime will open up a new wave of secure digital connectivity at sea, including global access and access management of operation-critical data and cyber security.

KNL Networks, founded in 2011 as Kyynel Ltd and led by CEO Toni Lindén, has developed a unique technology, providing data access through a secure, global mesh network and critical on-board IoT communications at sea.

KNL Networks was backed by Nordic venture companies including Creandum, Inventure and Butterfly as well as by Tamares, having raised $10 million back in 2016.