Working Group Two Acquired by Cisco

Industry Cloud & CX
Service Sellside M&A
Working Group Two Norway
Cisco United States

BOSTON, November 8, 2023 – Bowen is pleased to announce that Working Group Two (WG2), an Oslo, Norway-based provider of cloud-native core network technology for mobile operators, has been acquired by Cisco. Bowen acted as the exclusive M&A advisor to WG2.

  • This is Bowen’s 5th transaction with Cisco. Over the past decade, Bowen has sold more companies to Cisco as sole sellside advisor than any other investment bank.
  • Bowen’s Cloud & CX team, led by Bill Rich, has closed 7 transactions in the last 7 months. WG2 is our 2nd sale of a European mobile core technology provider to a major US strategic acquirer this year, following the acquisition of Athonet by HPE.
  • This is a continuation of Bowen’s cross-border expertise, particularly in the Nordics, representing our 9th transaction in this region. 35% of all our transactions have been cross-border.

“I am incredibly proud of the WG2 transaction and what it represents,” said Paul Bowen, Founder & CEO. “After 21 years in business, it is rewarding to see yet another example of Bowen’s platform – combining deep domain expertise with relentless transaction execution – resulting in optimal strategic and financial outcomes for founders, investors and employees.”

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