Utel AS, a Norwegian provider of solutions for network monitoring, quality assurance, fraud detection, and lawful interception for the telecom industry, will now continue under new ownership.
A Norwegian investor consortium led by Agder Seed has acquired the company’s assets and will continue operations with immediate effect. For Utel’s customers, this means full continuity of deliveries, without interruption.
The company will continue with the same technology and high level of expertise that customers know, based on retained core competence and a strengthened team that together maintains capacity and delivery capability.
Frode Gorseth, who previously led Utel and is well known to customers, will take on the role of CEO and ensure a smooth transition and continued development of the company.
The technical infrastructure, including systems, code, and domains, has been secured and transferred to the new company.
“We are very pleased to continue Utel with the same core expertise and solutions that our customers know, while also strengthening the team to ensure both continuity and further growth. Our highest priority is stable operations and close customer follow-up.”
— Frode Gorseth, CEO, Utel AS
The consortium acquiring Utel consists of investors with strong expertise in technology, telecommunications, and company building.
Agder Seed, managed by Skagerak Capital, leads the consortium and will take an active, long-term ownership role.
Gunnar Ugland, with extensive experience from Telenor and a strong background in telecom and company development, joins as an operating partner and co-owner.
Frode Gorseth will also become a shareholder and continue as CEO.
“Utel has a unique and well-established position in the market. We have strong confidence in both the technology and the expertise, and we see significant potential for further growth. As owners, we will support the company in realizing this potential.”
— Gunnar Ugland, investor and operating partner, Utel AS
“Utel represents a strong technology environment with a solid customer base and deep domain expertise. For us, it is important to help ensure that this competence is preserved and further developed locally. We look forward to taking an active role in the company’s continued development.”
— Andreas Eskeland, Partner, Skagerak Capital
The new ownership group will strengthen Utel’s position in the market. The company will prioritize continuing and developing existing customer relationships and will reach out to customers to establish new agreements with the continued entity.
At the same time, emphasis will be placed on stable and secure operations, as well as continued investment in product development to meet industry requirements in the years ahead.
Utel is a Norwegian technology company that develops advanced AI-powered solutions for network monitoring, quality assurance, fraud detection, and lawful interception for the telecom industry.
The company delivers solutions to key players in the Norwegian and international telecom market and plays an important role in securing critical infrastructure and regulatory compliance.
Agder Seed is an investment fund that invests in technology companies with ties to the Agder region.
The fund is managed by Skagerak Capital, which has more than NOK 1.5 billion under management and over 20 years of experience in building and developing technology companies with strong results.
Agder Seed is anchored in a solid regional ownership base consisting of, among others, the Sørlandet Competence Fund Foundation, the Sparebankstiftelsen Sparebanken Norge, the Aust-Agder Development and Competence Fund, Sparebanken Sør, and Agder Sparebank. This provides both financial strength and a long-term perspective on value creation in the region.