Funds advised by Apax to acquire co-investor Warburg Pincus’s stake in Odido, backing its next phase of growth

Amsterdam and London, 16 October 2026 – Funds advised by Apax Partners LLP (“Apax”) have today announced an agreement to acquire the shareholding of its co-investor, funds advised by Warburg Pincus (“Warburg Pincus”), in Odido Netherlands Holding B.V. (“Odido” or “the Company”). Financial terms of the transaction were not disclosed. The transaction is subject to customary closing conditions, including regulatory approvals and consultation of employee representatives.

The Apax Funds and Warburg Pincus have been shareholders in Odido since 2022 when they acquired the business from Deutsche Telekom and Tele2. Since then, Odido has made strong progress. It completed a successful rebrand, modernised its mobile network, and now has access to the largest fibre footprint in the Netherlands. Throughout, Odido has put the customer first. Its ambition is to become the Netherlands' customer champion by making technology more human, accessible and relevant to everyday life.

Connectivity has become core infrastructure for the modern economy, as demand for data continues to grow. Digital services and AI are increasingly part of how Dutch households and businesses work and live. Odido is well positioned for this market evolution, supported by continued investment in its network and customer service. On completion, funds advised by Apax will continue to back Odido as a committed, long-term owner, supporting ongoing investment in its network, customer experience, and digital inclusion work.

Gabriele Cipparrone, Partner, Apax, said: “Odido is a business we know intimately and have high conviction in its future growth. Over the past four years it has become a strong, standalone operator with an excellent team and a clear focus on its customers. Warburg Pincus has been an outstanding partner throughout, and we thank them for their part in all that Odido has achieved. We are pleased to continue backing Odido and its management through its next phase, supporting ongoing investment in its network, its security, and its service to customers across the Netherlands.”

Max Fowinkel, Managing Director and Head of European Technology & Telecommunications, Warburg Pincus, said: “We are proud of Odido's transformation and of the role the Warburg Pincus funds have played in it. Together with Apax and an exceptional management team, Odido has successfully separated from Deutsche Telekom, modernised its nationwide 5G network, launched a distinctive new brand and established itself as a leading operator in the Dutch market. We are grateful for our outstanding partnership with Odido and Apax, and wish them the very best in their continued journey.”

Søren Abildgaard, CEO, Odido, commented: “Apax has been a consistent and engaged partner throughout our journey, and I'm pleased that the Apax funds will continue to back us as a long-term shareholder. For our customers and our people, this means continuity: the same team, the same strategy and the same ambition to be the customer champion of the Netherlands. It also allows us to keep investing in what matters most: a reliable, secure network and services that help people and businesses get the most out of technology, in a way that is human and healthy. I'm also grateful to Warburg Pincus for its support and partnership as we built Odido into the business it is today.”