14 May 2019
Vodacom Group has reached an agreement to acquire a majority stake in IoT.nxt in a move that will significantly accelerate Vodacom’s Internet of Things (IoT) strategy and transform its dedicated IoT business unit. Vodacom has identified IoT as a key strategic growth area for the Group. This latest acquisition will enable Vodacom to operate across the full IoT value chain and develop best-in-class solutions for clients across a number of industry verticals.
IoT.nxt develops world-class technology and is an industry-leading end-to-end IoT solutions provider with operations in the USA, Europe and South Africa.
Vodacom Group CEO Shameel Joosub says:
“In addition to accelerating Vodacom’s Internet of Things strategy, our investment in IoT.nxt brings a number of advantages to Vodacom’s existing IoT capability, including class-leading platform technology. For example, this will allow us to better orchestrate the information obtained from sensors and edge devices as well as enable us to further scale our IoT business across multiple verticals as we move up the value-chain. Vodacom will continue to seek strategic acquisition opportunities to drive ongoing investment in the IoT sector and to become the digitalisation partner of choice for enterprise clients and customers.”
IoT.nxt CEO Nico Steyn says:
“This partnership is incredibly exciting for IoT.nxt. It allows us to combine the power of our technology and the considerable strength of Vodacom’s capabilities, footprint and brand. Vodacom has critically evaluated many platforms globally, and has had operational success in projects with us, so this partnership resulted from these wins. IoT.nxt delivers significant technical differentiation and allows Vodacom to leverage the technology across all industries, allowing for both scalability and rapid time-to-market. Vodacom’s investment will provide us with the freedom to expand our business vision while we build a class-leading product that will be sold globally, through multiple channels, including Vodacom’s competitors.”
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