Wireless Logic continues acquisition spree with IoTink Solutions business

The UK-based IoT connectivity platform provider is looking for a boost and style with the acquisition of a French company.

Man uses mobile phone with IoT and technology icons and global network on virtual screen.
Image: tippatt/Adobe Stock

The Internet of Things industry has witnessed a boom in recent years, leading to heavy financial investments by many companies worldwide.

Hoping to continue to become a key player in the IoT industry, UK-based IoT connectivity platform provider Wireless Logic has announced that it will acquire French IoT solutions for an undisclosed fee. This announcement comes four months after Wireless Logic announced the acquisition of two IoT connectivity platforms, Mobius Networks and Jola.

This acquisition focuses on leveraging IoThink’s IoT solutions to create more opportunities for Wireless Logic’s customers who need ways to control connected devices, analyze data and monitor fleets.

Before the acquisition, IoThink provided users with the Kheiron IoT Suite, which helped them build IoT platforms. The tool is used by 6,000 “experts” and enables low-code development with digital twin capabilities and over 500 pre-integrated tools.

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As the Encyclopaedia Britannica points out, the name Kheiron (also known as Chiron) comes from Greek mythology, Kheiron was one of the centaurs and was famous for his wisdom and knowledge of medicine.

With locations in various European territories and China, and a customer base spanning multiple sectors such as healthcare, utilities and smart cities, transportation, security, and agriculture, Wireless Logic hopes to achieve legendary status and pave the way for greater IoT efficiency. development, automation and management through this acquisition.

The bigger picture

As many companies do with such deals, they talked about synergy and business expansion goals, but did not give specifics about the job changes.

It is not clear if there will be any downsizing as part of the acquisition, but Julien Dalmasso, co-founder and CEO of IoThink Solutions, commented: “We are all very excited about what we can achieve as part of the group. “

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Nice-based IoThink Solutions has 20 employees, according to its LinkedIn page.

As for the bigger picture, the latest research from Statista It revealed that the global IoT market was worth around $182 billion in 2020 and is expected to rise to over $621 billion in 2030, tripling its revenue in ten years. These numbers are not surprising when you consider the growing number of IoT use cases in many industries, as well as the growing number of acquisitions, mergers and financing deals in the IoT industry.

For example, in August of this year, chip manufacturer Semtech announced the acquisition of IoT specialist Sierra Wireless for $1.2 billion. A few months ago, Telit, a provider in the IoT market, announced the acquisition of Thales, a provider of aerospace, defense, security and digital identity.

In addition, financing deals have been on the rise in the IoT industry. IoT developer Helium Systems recently secured a $200 million funding deal. Earlier this year, Eigencomm, a China-based IoT chip startup, closed a $156.8 million deal to develop its cellular IoT chips. Similarly, Wireless Logic also enjoys financial backing from Montagu Private Equity, which will allow it to expand further into the IoT market through acquisitions.

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With these recent acquisitions, Wireless Logic’s chances to compete with other IoT connectivity services such as Verizon Managed IoT Connectivity Services, Orange Business Services Managed IoT Connectivity Services and Vodafone Managed IoT Connectivity Services may have received a boost.

Myths and centaurs may be interesting to some readers, but the subject of IoT is so real. Read more on this topic with a cheat sheet, three inexpensive steps to secure IoT, and how IoT and edge computing can work together.

Source: https://www.techrepublic.com/article/wireless-logic-acquisition-iothink-solutions-deal/