P-Only is a leading independent provider of high capacity fiber-based data communication and datacenter services in Sweden. IP-Only owns and operates a high-capacity fiber network linking the Nordic capitals as well as Sweden’s second and third largest cities Gothenburg and Malmo.
In addition, IP-Only owns a Metro Area Network (MAN) in Uppsala, and several data centers supporting colocation and cloud-based product offerings to corporate clients.
IP-Only was founded in 1999. In 2002, it acquired the Scandinavian fiber network of KPNQwest. In total, approximately SEK 12 billion has been invested in IP-Only’s network infrastructure over the years. The Company is headquartered in Uppsala, Sweden.
Market trends and drivers
Data traffic is increasing rapidly due to the proliferation of high quality on-demand video and content streaming, cloud services, video conferencing and IT outsourcing, and is expected to continue to grow at a high pace making continued conversion to fiber technology inevitable.
According to a forecast from technology company Cisco Inc, global internet traffic is expected to increase nearly threefold between 2016 and 2021. In the same period, the number of internet connections and devices is expected to increase from approximately 16 billion to 26 billion.
The Swedish government is supporting these megatrends and the digitalization of our society with its broadband strategy where one goal is that 95% of total households should have access to broadband of at least 100Mbps by 2020.
The acquisition of IP-Only was based on the company’s growth potential as a stand-alone business but also on the opportunity to use IP-Only as a platform for add-on acquisitions of MANs in order to consolidate the Swedish market and achieve greater efficiencies and economies of scale.
The business development plan includes accelerated investments and build-out of IP-Only’s fiber network coupled with further development of new services and offerings. EQT also has the ambition to pursue add-on acquisitions in order to create a leading independent and open network operator in Sweden.