IQGeo Acquires Comsof NV

The acquisition will accelerate IQGeo’s ability to capture global market share in the fiber broadband market.

  • IQGEO

 

Cambridge--IQGeo has acquired Comsof NV (Comsof) and its fiber optic network automated planning and design software. The IQGeo Group has agreed to acquire Comsof for a total consideration of up to $132 million through a combination of cash, and shares.

Founded in 1998 with roots in the world-renowned Intec information technology department of Ghent University, Comsof has offices in Belgium and Canada. Over the last 20 years Comsof has established its software as the industry’s leading technology for automated fiber optic network planning and design. Its software is now deployed in more than 50 countries with over 100 active customers worldwide to automate and optimize network planning and design for FTTx networks, cutting deployment costs and time to revenue. 

There is significant global demand and investment for the deployment of new fiber optic networks and the Comsof acquisition will accelerate IQGeo’s ability to capture global market share. The acquisition of the Comsof technology strengthens IQGeo’s position as the premier provider of geospatial network management software that supports the entire telecom and utility network lifecycle.

Headquartered in Ghent, Belgium Comsof has over 50 staff making it an ideal base of operations for Continental Europe for the combined group where Comsof has a significant customer base in Central and Northern Europe. By investing in its European sales and marketing capabilities IQGeo will further accelerate sales of an integrated product suite throughout the region. Raf Meersman, the current CEO of Comsof, will remain with the business and join the IQGeo Executive Management Team.

“We are extremely pleased to welcome the Comsof team and technology to the IQGeo family,” explained Richard Petti, CEO at IQGeo. “The Comsof fiber optic planning and design software is highly complementary with IQGeo’s geospatial technology, allowing us to expand the scope and depth of our market share in the telecoms industry. Comsof has a well-established customer base and IQGeo will use the Ghent office to create a European operations hub focused on increasing our market share across the region. I see significant benefits from the unification of IQGeo and Comsof.”

Raf Meersman, CEO at Comsof said: “The Comsof team is excited to join our new colleagues at IQGeo to create a unique network management solution that combines our proven planning and design expertise with IQGeo’s Network Manager system of record software. In addition, the Comsof software will continue to be offered as an independent solution, supporting existing customers and channel partners. We have worked with the IQGeo team over the last few years with great success and the alliance of our two companies and technologies accelerate innovation and competitiveness.  We share a commitment to creating world-class software and a success-oriented culture that I’m confident will create tremendous new opportunities for our staff, customers, and partners.”

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