Tele2 buys connected tech company to boost IoT portfolio

Tele2 buys connected tech company to boost IoT portfolio

Tele2, one of Europe’s largest mobile phone operators, has acquired Sweden-based connected tech company Kombridge in a bid to boost its IoT portfolio.

As a result of the purchase, Tele2 wants to expand its presence in the lucrative IoT market and add to its existing line-up of IoT security services and products.

Launched in 2010 by the employees of WirelessCar – a telematics firm – Kombridge provides a range of security, connected tech management and application management products for the Internet of Things.

Aiding growth

The deal, with the financial details undisclosed, will see the telecoms giant take over Kombridge’s products, customer base and six employees. They’ll be integrated into its independent IoT arm.

It has three products. Kombridge Things is a platform to monitor deployed connected devices; Kombridge Connect provides secure connectivity; and Kombridge Professional Advice is an advisory service.

There’s also hope that, with combined sales and technology teams, Tele2 will be able to expand and build on Kombridge’s knowledge in the connected tech industry.

Increased IoT interest

The telco is dedicating a lot of time and resources to IoT, an industry that’ll be worth more than $1 trillion by 2020, according to American market research firm IDC.

In May, Tele2 formed an alliance with IBM to provide an IoT development kit to businesses. It’s also in the process of deploying an IoT network in the Swedish city of Gothenburg.

Tele2: Future market leader?

Rami Avidan, managing director of Tele2 IoT, believes his firm can become a market leader in IoT technology and services thanks to the purchase of Kombridge.

“We are extremely excited to welcome the Kombridge team to the Tele2 IoT family. The two companies have worked close to each other for a long time,” he said.

“Hence, we know each other well and are very confident that our combined strengths will make us an even stronger global IoT player with high value creation for our customers and partners.”

Avidan is speaking at the value of IoT partnerships at IoT Build in London this November.

IoT Build is the only event exploring the technical challenges of building the next generation of enterprise IoT networks. Tailored for CTOs, CIOs and Directors of Enterprise Architecture, you will learn deployment lessons from early adopter IoT “builders”. Featuring case studies as diverse as Hive, Bristol is Open, ING and Stanley Black & Decker.