Jersey, Channel Islands Velos IoT, a leading supplier of connectivity to the Internet of Things, was launched this morning. Velos combines the businesses of Jersey based JT IoT, Estonia’s Top Connect and Danish Nextm2m into a global powerhouse providing connectivity to over 12m cellular devices around the world.
With a heritage dating back to 2014, when JT IoT was formed in Jersey as a division of Jersey Telecom, the Velos IoT group has built a reputation as a fast growing and leading supplier of global Internet of Things connectivity. In summer 2021 JT IoT was acquired by Perwyn, a European private equity investor. Subsequently Velos IoT has acquired two further successful IoT businesses – NextM2M in Denmark and Top Connect in Estonia. By extending its product portfolio and range of customers these acquisitions have led in turn to further success.
Supported by a team of over 120 people in over a dozen countries, the Velos mission is more than just IoT connectivity – we are here to enable a smart, connected, and sustainable world. The new group name reflects this renewed focus on agility and the positive impact that Velos makes with its IoT solutions.
Graeme Millar, CEO of Velos IoT, said: “We’re incredibly proud of the work that we do and thankful to the customers, employees, partners and suppliers that are accompanying us as we grow our network of connected devices that, in turn, are building a more sustainable future for us all. We feel strongly about the impact we want our products and services to make, and it was time to create a brand that reflects our core values.
It is an exciting time for our company, and I promise all our stakeholders a continued positive journey with us.”
The new brand will become public on 22 September 2022.
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ABOUT VELOS IOT
Harness the power of connectivity with Velos IoT. We are a global integrated connectivity provider with extensive experience in delivering IoT services via proprietary core and roaming agreements. Supported by an international team of experts and with over 600 global networks, Velos IoT provides customers with sustainable, scalable, compliant, and secure access to connectivity.
At Velos IoT we deliver the agility and resilience IoT customers require. We manage over 12M connected devices worldwide and offer solutions to businesses of all sizes – from small specialist players to huge manufacturers.
ABOUT PERWYN
Perwyn is a European private equity investor specialising in buyout and growth capital investments in four sectors: Technology, Services, Healthcare and Food & Ingredients. Typically, we invest between £/€20 and £/€300m per deal in a focussed portfolio of businesses with significant potential to expand.
Perwyn invests capital, expertise and relentless energy in partnership with ambitious management teams to accelerate organic growth and pursue market consolidation opportunities. Our substantial permanent capital base allows us to focus all of our time on helping investee companies achieve great things.
Source: RealWire