Phonero is a privately owned MVNO providing telecommunication services to Norwegian small and medium business customers. Phonero has its headquarters in Kristiansand with regional offices in Oslo, Stavanger, Bergen and Trondheim.

With a strong salesforce and excellent customer support, the company has achieved steady high growth, becoming a sizable Norwegian telecommunication player.

From being a startup company in 2008, the company has grown organically and through the acquisition of Ventelo in 2014 to become a central virtual operator in the Norwegian business market with revenue exceeding 1 billion NOK and with more than 250 000 active users. The acquisition of Ventelo have strengthened the organization and improved the customer diversification due to Ventelo’s large share of government clients.

On November 9, 2015, Kistefos announced a sale of the majority shareholding in Phonero to Norvestor VI L.P a fund managed by the private equity company Norvestor.

Kistefos’ consideration for its ownership share was MNOK 758, which constitute a booked profit of approximately MNOK 680 and an IRR of more than 65%.

Kistefos will reinvest MNOK 152 and own 20,13% of the shares in Phonero after the transaction.