JT IoT expands global IoT expert team by acquiring Top Connect

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7 July 2022

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.

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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.

www.topconnect.com

About Perwyn

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:

Belvedere Communications      

John West          +44 77 889 71403

                             jwest@belvederepr.com

Llew Angus        +44 74 070 23147

                             langus@belvederepr.com