Wyless Group Holdings to be acquired by KORE Wireless Group
FREMONT, CA: In an announcement made by KORE Wireless Group, Inc., the firm publicized their acquisition, in an all-cash transaction, of Wyless Group Holdings. KORE Wireless Group is the world’s largest managed wireless network services provider specializing in Machine-to-Machine (M2M) communications and the Internet of Things (IoT). 350 team members will be supporting the joint company now. A customer base of more than 3,000 B2B companies will be maintained by them globally. This will make the organization rise instantly and become one of the six largest providers of M2M/IoT services all across the world. “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. We expect our high-performing teams to come together to push into new realms of software services for tomorrow’s globally connected business environment,” said Alex Brisbourne, CEO of KORE.
Asia, Latin America, Europe and North America will be the places to host extensive physical presence and data center operations of the combined business. “Coupled with ubiquitous ability to reach all parts of the globe over 2G, 3G, 4G, GSM, CDMA and satellite networks, we can reliably collect and deliver data anywhere on the planet,” said Brisbourne. The deepest expertise in M2M which has been under development for almost 12 years now, will be brought together by this combination.
“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.
Increasing innovation through software service and platforms will be driven by this joint venture and this puts the collaboration in a unique position. The interaction between data collection, data management and telecommunications will be managed by this acquisition for some of the largest enterprise customers all over the globe.
CEO of the combined business, Alex Brisbourne will continue on in his role and current CEO of Wyless, Mike Coffey will be the new Chief Operating Officer.