CVC DIF Backs OV, the Global IoT MNO, to Accelerate International Growth

OV, the Global IoT MNO and part of the Manx Telecom Group, has entered into a strategic partnership and acquisition agreement supported by CVC DIF, the infrastructure strategy of global private markets manager CVC, and JT Group.

This marks a significant milestone in OV’s growth journey. As a leading provider of global IoT connectivity, OV enables businesses around the world to connect devices seamlessly across multiple networks and geographies. With CVC DIF's proven expertise in digital infrastructure and IoT, including a major holding in Airalo, the world’s largest eSIM marketplace, OV will leverage new investment and strategic insight to strengthen its global platform and accelerate innovation.

CVC DIF’s investment brings both financial strength and deep sector knowledge, while the inclusion of JT Group in the wider partnership expands collaborative potential across network innovation and connectivity expertise. Together, these relationships will enable OV to scale its global IoT infrastructure, enhance customer experience, and drive the adoption of secure, flexible, and intelligent connectivity solutions worldwide.

Phil McDermott, CEO of OV, said:

“This is an incredibly exciting time for OV and for our customers around the world. As part of Manx Telecom Group, and with CVC DIF’s backing through this strategic partnership and acquisition agreement, we are in a strong position to accelerate innovation, expand our global reach, and build on our position as the Global IoT MNO. CVC DIF's deep understanding of the IoT and Travel eSIM ecosystem’s will help us  deliver even greater value for our partners and customers.”

This partnership represents a major step forward in OV’s ambition to connect the world’s devices simply, securely, and intelligently, reinforcing the Isle of Man’s position as a hub for digital innovation.

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