Buyout of these two companies will give a boost to Enterprise IoT Services
Kore Wireless and Wyless, are the two companies that have helped enterprises to deploy and manage Internet of Things devices are now coming together to expand their global reach and scale. The company Kore Wireless will be acquiring Wyless for an undisclosed price. The all-cash transaction is expected to close in the next few weeks.
Kore, based in Atlanta, sells managed IoT services to enterprises that need connected devices out in the field and don’t want to deal with details like signing up with carriers and keeping the devices online. These devices are things like sensors, meters and tracking boxes installed in vehicles. Wyless, in Boston, provides similar services and has an eSIM technology for activating devices on different networks without swapping out the physical SIM card.
Machina Research analyst Godfrey Chua said that The combination will expand Kore’s reach, especially in Europe and Latin America, which is a win for both the company and for its multinational customers. IoT can help enterprises do things like track shipping containers, and the applications span industries such as energy, oil and gas, health care and logistics. There are totally new networks emerging for some of these applications, but the cellular systems already in place still play the biggest role.
According to Kore, they will be able to reach devices across the globe on 2G, 3G, 4G and satellite networks. The combined company will serve more than 3,000 customers with more than 6 million active devices worldwide. Kore will have physical presence and data center operations in Asia, Europe, North America and Latin America. Its scale in IoT will match that of the world’s biggest mobile operators.
Broad international coverage is becoming more important for enterprise IoT because connected-device strategies are now coming from top management instead of regional teams that happen to have a need, Machina Research’s Chua said.