iBASIS, the leading provider of communications solutions for operators and digital players worldwide and a daughter company of Tofane Global (TOFANE) acquired Simfony, an Internet of Things (IoT) Platform-as-a-Service provider and Mobile Virtual Network Enabler (MVNE).
The acquisition complements the iBASIS IoT portfolio by adding a business management layer to its global connectivity offering, thus creating a one-stop shop for its customers. They now have access to a fully-featured IoT Connectivity Management Platform for their remotely programmable SIMs (eSIMs), from online ordering, provisioning, product catalog, device lifecycle control, trouble ticketing, online rating, and billing, to account profitability.
iBASIS’ expanded IoT offering comes at a time when the IoT connectivity market, which is forecasted for double-digit growth in the coming years, is experiencing a surge in demand for reliable and secure networks.
With this acquisition, iBASIS adds a technology development center in Romania and strengthens its operations in the Netherlands where Simfony is headquartered. The Simfony management and team will join iBASIS, bringing remarkable value in industry expertise and technology skills.
BDO M&A and BDO Legal acted as advisor to the seller in this transaction.