The acquisition will boost the mobile network operator’s Internet of Things strategy
Vodacom Group has bought a 51% stake in IoT.nxt to accelerate its Internet of Things strategy.
IoT refers to networks of physical devices that use sensors to connect and transfer data over the internet. In the year to March, Vodacom’s IoT customers grew 24.4% to 4.5-million.Vodacom Group CEO Shameel Joosub says the acquisition of IoT.nxt brings a number of advantages to Vodacom’s existing IoT capability, including a technology platform that will allow the group “to better orchestrate” the information obtained from sensors and edge devices, among other things.
Joosub said Vodacom will continue to seek strategic acquisition opportunities to drive ongoing investment in the IoT sector. IoT.nxt CEO Nico Steyn said Vodacom’s investment will provide the company “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”.
IoT.nxt’s management team will continue to run the company, working closely with Vodacom’s IoT business led by Vodacom Business CEO William Mzimba.
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