KORE Wireless to buy Wyless

IoT and M2M specialist KORE Wireless Group has announced the acquisition of Wyless Group Holdings.

In a statement, KORE Wireless said that following completion of the transaction, the combined company will be supported by a staff of more than 350 and have a global customer base of more than 3000 B2B companies serving more than 6 million subscribers.

“Both Wyless and KORE have a long history, dating back to 2003, of serving the M2M market from its early beginnings through innovation and strong customer relationships,” said Alex Brisbourne, CEO of KORE.

“Bringing our combined resources together will allow us to deliver solutions that, quite simply, aren’t available in the market for many to access to date,” said Mike Coffey, CEO, Wyless Group.

The company is uniquely positioned as it drives increasing innovation through software service and platforms that will manage the intersection of data collection, data management and telecommunications for the world’s largest enterprise customers.

The KORE statement said that one-third of the combined organisation will be committed to product development around new technologies, including eSIM services.

The acquisition is still subject to regulatory and other consents, and is expected to close in early Q2, 2016. It will be an all-cash transaction, but financial terms have not been disclosed.