Cibicom A/S

Denmark · owned by Agilitas Private Equity LLP (United Kingdom) · cibicom.dk · 13 vendors

Cibicom A/S is a Danish independent network operator and Internet Service Provider (ISP) that designs, installs, and operates data and communication solutions for public service broadcasting, emergency services, and businesses. The company owns and operates nationwide telecom infrastructure including transmission masts, a 3,500 km fibre-based IP backbone network, five Tier 3 data centres, and critical communication systems such as SecureCom LTE450. Tracing its roots to Denmark's first radio broadcasts in 1925 (via Post- og Telegrafvæsenet), it rebranded from Teracom to Cibicom in January 2019 and is headquartered in Ballerup, Denmark.

Resilience scores

Technology vendors

Services catalogue

4 services in catalogue across 2 categories; runs on 13 sub-vendors.

Insights

Last updated 2026-09-13 · revision 11

13 direct vendors, 199 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 6/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

Cibicom A/S exhibits a moderate level of migration readiness, characterized by its existing capabilities in cloud integration but constrained by its core business model and regulatory environment. Strengths include the 'Cloud Direct' service, which provides private connectivity to major public cloud platforms (Microsoft Azure, Google Cloud, Oracle Cloud, IBM Cloud, and Amazon AWS) via its MPLS network. The company also offers 'Hybrid Datacenter' solutions, combining on-premises colocation with cloud hosting, demonstrating practical experience with hybrid cloud environments. Its 'IoT Management Platform' is cloud-based, indicating internal adoption of cloud services. The geographic diversity of vendor origins (5 countries) suggests a potentially flexible supply chain, and Cibicom's extensive owned infrastructure (fibre, data centers, masts) reduces reliance on external infrastructure vendors for its core services, which can mitigate vendor lock-in risks. However, significant challenges exist. Cibicom's core business revolves around physical infrastructure (telecom masts, fibre networks, data centers), which is inherently less amenable to full cloud migration compared to purely software-based services. The regulatory landscape presents substantial hurdles: GDPR, NIS2, ISO 27001, and SOC2 are all 'Assessment Required' with high or medium risk levels. These compliance requirements, particularly concerning data handling, cybersecurity, and incident reporting, will add considerable complexity, cost, and time to any migration strategy. Furthermore, strict data residency requirements under GDPR and potential Danish national security regulations for critical infrastructure services limit the choice of cloud regions, primarily restricting options to within the EU/EEA. While 'Total Vendors: 0' prevents a direct assessment of vendor lock-in from specific relationships, the inherent nature of their physical infrastructure business and the regulatory environment are the primary factors influencing migration readiness.

Compliance

10 in-scope frameworks identified; showing 3.

Danish CER Act — Assessment Required

Cibicom is repeatedly identified as part of Denmark's critical infrastructure, providing essential communication services to the public, government, and defense. The CER Act, which addresses the resilience of critical entities, is therefore applicable.

As critical infrastructure, failure to ensure physical resilience against threats could have national security implications and lead to severe penalties. The designation as a critical entity carries a high burden of proof for compliance.

Evidence: https://baxtel.com/data-center/cibicom-copenhagen-west-smorum, https://www.privateequitywire.co.uk/tower-as-a-service-and-critical-infrastructure-in-denmark/, https://www.datacenterindustrien.dk/cibicom, https://cibicom.com/about-cibicom/, https://www.datacentermap.com/c/cibicom/, https://www.datacenter-forum.com/datacenter-forum/cibicom-opens-its-5th-colocation-data-center-in-denmark

Danish Radio and Television Act — Compliant

Cibicom operates the national infrastructure for the distribution of radio and television signals in Denmark, making them subject to the provisions of the Radio- og fjernsynsloven.

As the operator of the national digital terrestrial television (DTT) network, any failure to meet the technical and operational requirements of this act would have widespread impact and attract regulatory scrutiny.

Evidence: https://www.privateequitywire.co.uk/tower-as-a-service-and-critical-infrastructure-in-denmark/, https://baxtel.com/data-center/cibicom-copenhagen-west-smorum, https://cibicom.com/about-cibicom/, https://www.datacenterindustrien.dk/cibicom, https://dangroupinvest.com/portfolio-item/cibicom-denmark/, https://www.datacenter-forum.com/datacenter-forum/cibicom-opens-its-5th-colocation-data-center-in-denmark

SOC 2 (source) — Assessment Required

SOC 2 is a common framework for technology and data center service providers to demonstrate security controls to their customers. It is often requested by clients, especially those based in North America.

While not holding a SOC 2 report is not a compliance failure, it may present a commercial disadvantage, as it is a common requirement from international customers, particularly from the US.

Financials

Three-year financials

Financial Resilience Score: 6/10

Cibicom A/S operates as a critical Danish telecommunications and broadcast infrastructure provider with a defensible moat built on hard-to-replicate physical assets including approximately 3,500 km of fibre backbone, five Tier-3 data centres, and a national network of broadcast and communications masts. The company benefits from sticky, long-term contracts with public-sector and regulated counterparties such as DR, TV 2, the Danish Defence, emergency services, and utilities, generating recurring low-churn revenue. Regulatory tailwinds from EU LTE450 mandates, NIS2 directives, and heightened focus on critical infrastructure resilience post-Ukraine support demand for its mission-critical offerings. However, the resilience score is moderated by significant risks. As a PE-owned (Agilitas since 2018) capital-intensive infrastructure business, Cibicom likely carries meaningful debt, with depreciation and rising interest costs in 2022-2024 creating refinancing risk. Customer concentration is a material concern, with a likely large share of revenue tied to a few public-sector and broadcaster contracts. The structural decline of linear broadcast (DTT/DAB+) due to streaming creates long-term headwinds, only partly offset by growth in data centres, mission-critical communications, and IoT. Energy cost exposure from data centres and mast sites, combined with a fixed 1.99 DKK/kWh green-power price commitment to customers, could compress margins during wholesale price spikes. PE exit risk also looms as Agilitas approaches a typical hold-period horizon.

Key strengths: Critical-infrastructure moat with hard-to-replicate physical assets (broadcast towers, ~3,500 km fibre, 5 Tier-3 data centres), Sticky long-term contracts with public sector, broadcasters, defence and utilities, Regulatory tailwinds from EU LTE450, NIS2, and critical-infrastructure resilience focus, Diversified portfolio across broadcast, mission-critical comms, data centres, IP/fibre, IoT, Strong PE owner (Agilitas) supporting bolt-on M&A since 2018

Risk factors: Capital intensity and likely PE-level leverage with refinancing risk in rising-rate environment, Customer concentration in a few large public-sector and broadcaster contracts, Structural decline of linear broadcast (DTT/DAB+) due to streaming, Energy cost exposure from data centres and mast sites with fixed-price customer commitments, PE exit risk as Agilitas approaches typical hold-period horizon

Revenue by geography

Revenue by product/service

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