JT IoT, founded as Jersey Telecom’s IoT connectivity wing, has acquired Top Connect, an Estonian MVNO and global roaming provider.

The acquisition of this IoT and roaming connectivity provider and its team should 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 serving more than 100 international customers and distributors. With proprietary core infrastructure and a wide range of connectivity suppliers, Top Connect should provide diversification of the JT IoT portfolio.

“We are thrilled to welcome Top Connect to the family,” said Graeme Millar, CEO of JT IoT. “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, added: “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.”

Since its launch in 2014 as part of the Jersey Telecom family, JT IoT has demonstrated 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 sustainable, scalable, compliant and secure access to connectivity.

“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,” said Mark Blower, partner at Perwyn. “This acquisition will continue to strengthen our international growth, helping us realise 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 ten million IoT connections.

JT IoT has built a reputation as a supplier of global IoT 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.

JT IoT has shipped more than ten million SIMs worldwide and has hundreds of customers from small specialist players to huge manufacturers, both of whom need to simplify their connectivity and improve agility in their competitive offerings.

Top Connect is an alternative roaming service provider. Products include affordable global mobile connections and management for B2C, B2B and IoT connectivity. It is a fully licensed MVNO and provides sponsored roaming and e-profile services for various service providers. Top Connect can provide access to 350 roaming partners in over 210 global destinations.

Perwyn is a European private equity company specialising in buyout and growth capital investments. Typically, Perwyn invests between £20m and £200m in a limited number of businesses with the potential for significant growth.