JT IoT Acquires Estonia based Top Connect

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.

JT IoT has built a reputation as a supplier of global Internet of Things connectivity by combining its MNO heritage and MVNE experience to deliver services and expertise in owning and operating proprietary core and understanding the needs of all aspects of the industry, from roaming to resale and back again.

Since its launch in 2014 as part of the JT family, JT IoT has demonstrated consistent strong revenue growth, followed by an acquisition by the European private equity company Perwyn in early 2021. Supported by a team of 70+ people and with over 500+ global networks, JT IoT provides customers sustainable, scalable, compliant, and secure access to connectivity.