Jersey / Tallinn / London JT IoT, the Jersey based global IoT Connectivity player backed by Perwyn, announces that it has acquired Top Connect, an international MVNO and global roaming provider. The acquisition of this IoT and roaming connectivity provider and its expert team will accelerate JT IoT’s plan to build a stronger global IoT ecosystem and to expand into new markets and use cases.
Top Connect is an Estonia-based connectivity player with a 25-year track record of successfully serving over 100 international customers and distributors. With proprietary core infrastructure and a wide range of connectivity suppliers, Top Connect will provide important diversification of the JT IoT portfolio.
Graeme Millar, CEO of JT IoT said: “We are thrilled to welcome Top Connect to the family. Top Connect’s acquisition provides a major growth opportunity for both our businesses through an extended service offering for our clients. Mutual access to new markets, products and people will add significantly enhanced capabilities for both JT IoT and Top Connect teams.”
Vladislav Sobolev, CEO of Top Connect, said: “We are delighted to be joining JT IoT’s team. By combining our engineering expertise, core infrastructures and supplier agreements with JT IoT’s connectivity platform, we can power further innovation and create true value for all our IoT global customers.”
Mark Blower, Partner at Perwyn, said: “Top Connect will bring the right expertise and services we’re seeking to add to the JT IoT portfolio to provide businesses around the world with scalable and reliable IoT connectivity. This acquisition will continue to strengthen our international growth, helping us realize the ambitious targets we set for 2022.”
The merged business will serve over 500 enterprises and governmental organisations across the globe and will manage over 10 million IoT connections.
About JT IoT
JT IoT has built a reputation as a supplier of global Internet of Things connectivity by combining its MNO heritage and MVNE experience to deliver services and expertise in owning and operating proprietary core and understanding the needs of all aspects of the industry, from roaming to resale and back again.
Since its launch in 2014 as part of the JT family, JT IoT has demonstrated consistent strong revenue growth, followed by an acquisition by the European private equity company Perwyn in early 2021. Supported by a team of 70+ people and with over 500+ global networks, JT IoT provides customers sustainable, scalable, compliant, and secure access to connectivity.
JT IoT’s value propositions are not just megabytes, but the value adds that our customers need for scalability, security and agility. Harnessing new technologies to deliver solutions faster, but with the resilience and reliability, IoT customers require. JT IoT has shipped more than 10 million SIMs worldwide and has hundreds of customers from small specialist players to huge manufacturers, both of whom need to simplify their connectivity and improve agility in their competitive offerings.
About Top Connect
Top Connect is one of the world’s leading alternative roaming service providers. Products include affordable global mobile connections and management solutions for B2C, B2B and IoT connectivity. Top Connect is a fully licensed MVNO and provides Sponsored Roaming and e-Profile solutions for various service providers. Top Connect can provide access to 350+ roaming partners in over 210 global destinations.
Perwyn is a European private equity company specialising in buyout and growth capital investments in four sectors: Technology, Services, Healthcare, and Food & Ingredients. Typically, Perwyn invests between £20 and £200m in a limited number of businesses with the potential for significant growth.
Perwyn invests equity capital, expertise, and relentless energy to help ambitious management teams launch new products, capture new markets, and grow. That is all we do. Our substantial, permanent capital base allows us to focus 100% of our time and energy on achieving great things with the companies in which we invest.
For more information on Perwyn, please visit perwyn.com or contact:
+44 77 889 71403
+44 74 070 23147