In a joint statement, the companies said Zeplug would receive a “significant primary capital investment” from asset manager ICG’s infrastructure investment arm ICG Infra.
Zeplug, which was founded in 2014 and gets its income by charging fixed monthly subscription fees, will be merged as part of the deal with Bornes Solutions, a subsidiary of a firm within ICG Infra’s portfolio, they added on Wednesday.
ICG will become a majority shareholder, a spokesperson said.
The funds raised should enable Zeplug to accelerate its expansion in Europe and the United States, the companies said.
($1 = 1.0014 euros)