IoThink’s innovative IoT platform will create new opportunities for Wireless Logic customers to control connected devices, monitor fleets and analyse data

Wireless Logic, the leading global IoT connectivity platform provider has acquired IoThink Solutions for an undisclosed sum. IoThink is an international software as service vendor, which provides tools for customers to quickly and easily build their own bespoke IoT solution. This agreement marks the latest step in Wireless Logic’s business expansion following the acquisitions of Mobius Networks and Jola in July.

Formed in 2016 and headquartered in France, IoThink is on a mission to simplify IoT. Its core offering is the Kheiron IoT Suite, which provides users with the required tools to quickly and easily build their own IoT platform. The fully customisable solution offers low-code development, over 750 pre-integrated devices, digital twin capabilities and templates for multiple use cases. In addition, Kheiron facilitates the management of information flows from different sources and allows integrators to interconnect with their own internal solutions under a single data format. Kheiron can adapt to different use cases to meet demand across different vertical sectors – from smart cities, buildings and industry, to retail and utilities.

Julien Dalmasso, Co-founder and CEO at IoThink Solutions commented: “Joining one of the world’s largest IoT Connectivity providers is a natural fit and a logical next step for us. Wireless Logic is a heavyweight in the IoT industry, as evidenced by its recent global momentum, partnerships and overall market success. Introducing our IoT enablement solution to Wireless Logic’s extensive customer base presents a huge opportunity. This milestone is testament to the hard work and dedication of the amazing team at IoThink. We are all very excited at the prospect of what we can achieve as part of the group.”

Joining one of the world’s largest IoT Connectivity providers is a natural fit and a logical next step for us. Wireless Logic is a heavyweight in the IoT industry, as evidenced by its recent global momentum, partnerships and overall market success.

Jeremy Mirouf, Co-founder and CTO at IoThink Solutions commented: “We are delighted to be joining the Wireless Logic Group. This will enable us to accelerate the development of our IoT enablement capabilities for our 1,000+ customers across the globe, as well as introducing our own capabilities to Wireless Logic customers. Innovation is at our core, and we are passionate about delivering scalable, cost effective and user-friendly software solutions to simplify IoT. I am thrilled that Wireless Logic’s reliable and secure connectivity solutions will now be available to IoThink customers. This will provide our joint customer base with a horizontal ‘one-stop-shop’ to help speed up and simplify global IoT deployments.”

We are delighted to be joining the Wireless Logic Group. This will enable us to accelerate the development of our IoT enablement capabilities for our 1,000+ customers across the globe, as well as introducing our own capabilities to Wireless Logic customers.

Marc Niccolini, Managing Director, Group Revenue (CRO) at Wireless Logic commented: “This acquisition will expand Wireless Logic’s position into an adjacent part of the value chain. With the talented IoThink team onboard, our customers will be able to take charge and accelerate their IoT deployments through the low-code development, templates, and large device library available on the Kheiron IoT Suite. Similarly, our connectivity solutions will be a valuable addition to Kheiron, helping customers to decrease complexity and time to market. We look forward to working closely with the talented and innovative IoThink team.”

This acquisition will expand Wireless Logic’s position into an adjacent part of the value chain. With the talented IoThink team onboard, our customers will be able to take charge and accelerate their IoT deployments through the low-code development, templates, and large device library available on the Kheiron IoT Suite.

Oliver Tucker, CEO of Wireless Logic commented: “There are great synergies between Wireless Logic and IoThink Solutions, and this is an exciting acquisition for us, as it extends our reach to an adjacent part of the value chain. As IoT scales, the tools and solutions that IoThink offers are increasingly important to optimise any IoT project for maximum efficiency, and we are excited to bring these capabilities to our customers as they accelerate their own deployments. Similarly, our connectivity solutions will be a valuable addition to the Kheiron IoT Suite, helping customers decrease complexity and time to market. We look forward to working closely with the talented and innovative IoThink team.”

There are great synergies between Wireless Logic and IoThink Solutions, and this an exciting acquisition for us, as it extends our reach to an adjacent part of the value chain.

Oliver Tucker, CEO, Wireless Logic

Eurazeo, via its Small-Mid Buyout team is today announcing the signature of an agreement with a view to investing in NeoXam, alongside its founder Serge Delpla and its management team led by Florent Fabre.

Under the agreement, Eurazeo would invest more than €100 million, thus becoming the group’s majority shareholder. Historical partners (led by Cathay Capital and BPI), shareholders since 2018, would sell their share in this occasion.

NeoXam was created in 2014 following a carve-out from Sungard and a series of acquisitions adding complementary solutions. It now has 550 employees, of which half in R&D, across 15 offices worldwide. The company provides “data-centric” solutions used by more than 120 clients – large asset managers, financial institutions, and global banks – to structure their IT systems. NeoXam solutions cover everything from Front Office (Portfolio Management System) to Back and Middle Office, accounting (NAV) and regulatory and client reporting teams. Clients on all continents – in Europe, the US, Canada and Asia, particularly Singapore and mainland China – have chosen NeoXam for its functional and technological expertise.

Over the last four years, NeoXam has deployed its global growth strategy while also developing its business model. It has transitioned away from upfront licences to SaaS subscriptions, which now account for more than half of its revenue (€75 million) and make the company highly resilient.

Through its investment plan, Eurazeo is willing to support NeoXam in continuing ramping up growth, particularly in the Data Management and Reporting segments, and expanding internationally (particularly in Asia, the UK and US). Eurazeo also plans to provide NeoXam with its internal resources, helping NeoXam to pursue its buy-and-build strategy to complement its range of services and client base, and to accelerate its international expansion.

To achieve this, Eurazeo would give NeoXam access to its global network and expertise in developing businesses throughout their growth phase, in order to strengthen the global leading position of this asset management solution provider.

Serge Delpla, founder of NeoXam, said:

“With Eurazeo’s support, NeoXam could add a new dimension to its international growth strategy. Our products, which are used by most of the global top 20 asset managers in locations such as NY, London and Singapore, have proven their value as extraordinarily useful tools, particularly in the rapidly developing fields of Data Management and Reporting. Eurazeo would be an ideal partner, combining extensive investment capabilities, an exceptional international network and a rare understanding of the entrepreneurs it supports. We hope to enter into a partnership in the very near future, to enable NeoXam to reach its full potential.”

Florent Fabre, Managing Director of NeoXam, added:

“We are confident that Eurazeo is the best partner to accompany NeoXam in the next chapter of our story. On top of all the resources that Eurazeo can offer, its teams share with us the same human and entrepreneurial essential values, which will help us to work together to complete the next phase of our growth strategy. We will more than ever focus on the continuous investment in our solutions, client satisfaction and our workforce fulfilment.”

Pierre Meignen, Managing Director of Eurazeo’s Small-Mid Buyout team, said:

“The opportunity to work alongside NeoXam fits perfectly with our investment strategy. The company has an extremely resilient business, its core business areas displaying growth over 20% p.a. Its strong global presence will help boost growth and its teams are immensely talented.”