Working Group Two to be acquired by Cisco

Telenor announced that all shares in software company Working Group Two will be acquired by the global communications technology company Cisco. Telenor sells its 44.6% share of Working Group Two, in a transaction where Cisco will acquire all shares in the company for an enterprise value of [$150 million (€137.03 million)]. Working Group Two will be incorporated fully into Cisco.

Working Group Two started as a development project in Telenor before it was spun out with Telenor as a cornerstone investor in 2017 along with Digital Alpha, a digital infrastructure investment firm. The company, which offers mobile operators a cloud-based core network platform designed to increase product innovation and reduce time to the market, has since grown from around 5 to more than 90 employees with a global customer base in Europe, North America, and Asia.

“Working Group Two is a Telenor innovation ...