Momenta Ventures Portfolio Company Thingstream Acquired by u-blox
Posted by Ben Steven
Thingstream, a provider of IoT Communication-as-as-Service, and a Momenta Ventures portfolio company, today announced that it has been acquired by Swiss headquartered u-blox AG, a global provider of positioning and wireless communication technologies. The acquisition enables u-blox to offer its customer base even more value-added services for fast growth IoT projects.
Thingstream’s IoT Communication-as-as-Service offering is uniquely positioned to remove the barriers to IoT adoption by simplifying the process of getting meaningful data from devices to the cloud securely and at scale. The strategic fit between u-blox and Thingstream will enable both organizations to capitalize on and capture significant market share in the global IoT market and value of Low Power Wide Area communications like LoRaWAN.
Thingstream has already achieved significant growth as it has been adopted by numerous enterprises across the globe. With a focus on an extended partner ecosystem, many of whom also work with u-blox technologies, the synergies between the two organizations demonstrate why this acquisition is a perfect fit.
Thingstream is the latestsuccessfor Momenta Partners, Digital Growth Partnersretained by their former parent company, Myriad Group, in 2017 to build a growth strategy for IoT. "We subsequently advised on the spin-out from Myriad, placing Philipp Bolliger as Thingstream’s CEO, became the first institutional investors,advised on developing the LoRaWan offering announced last year, and advised on their exit opportunities.Thingstream is a textbook example of our Digital Growth Partnering in action. Just like PLAT.ONE (sold to SAP) and other portfolio companies, we’ve help Digital Industry companies achieve terminal velocity through a combination of our Advisory, Talent and Ventures practices” said Ken Forster, Executive Director at Momenta Partners and Momenta Ventures.
Philipp Bolliger, CEO, Thingstream, said: “I’m very grateful for having had the opportunity to work with Momenta. While most investors claim to be smart money, Momenta delivered with their deep understanding of digital industry, relevant networks and focused growth services.”
Thingstream is a leading provider of Connectivity-as-a-Service for the Internet of Things (IoT) applications. Thingstream’s intelligent Global Connectivity Platform provides low power, low cost, ubiquitous IoT connectivity via MQTT and works in over 190 countries already today. The secure, out-of-the-box IoT connectivity solution leverages both the globally available GSM network as well as private LoRaWAN implementation to offer immediate, global IoT connectivity that no other low power connectivity provider can today. Thingstream specializes in helping simplify IoT connectivity, reducing costs and operational overheads in the delivery of an intelligent network of connected things. For more information visit https://thingstream.io.
Momenta Partners encompasses leading Strategic Advisory, Executive Search, and Venture practices. We’re the guiding hand behind leading industrials’ IoT strategies with over 200 IoT leadership placements and 40+ young IoT disruptors.