Managed wireless services provider OptConnect has acquired Silicon Valley-based IoT network solutions provider Premier Wireless Solutions. Financial terms of the deal were not disclosed.
This is technology M&A deal number 747 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
OptConnect Acquires PWS: Deal Focus
OptConnect, founded in 2009, provides wireless connectivity managed services for unattended equipment including ATMs, smart safes, kiosks, micro markets, digital signage and other custom applications to more than 3500 customers. The company is based in Kaysville, Utah.
Premier Wireless Solutions, founded in 2010, is a value-add distributor (VAD) and solutions provider for a variety of wireless products from embedded modules to fully integrated systems, according to the statement. The company is based in San Jose, California.
PWS serves the M2M (machine to machine)/IoT market, offering network design, hardware procurement, software configuration, staging, API integration, device certification, implementation, management and support. Key areas of focus include digital signage, primary Internet applications, utilities, asset tracking, EV charging and medical markets, the seller said.
PWS will continue to operate under the Premier Wireless Solutions name, but will be branded as an OptConnect company. The company's office in San Jose, California will remain open and Vince Giacomini, founder of PWS, will serve as president of the PWS business unit.
OptConnect Acquires PWS: Executive Commentary
Chris Baird, CEO of OptConnect, commented on the news:
“Having the combined power and momentum of what our individual organizations and teams have built over the last 10+ years coming together will strengthen our united value proposition and connectivity solution stack for the IoT market.”
PWS' Giacomini added:
“We are excited to join the OptConnect family. They have built an incredible fully managed solution for their customers and now that we can add our solutions, services, global carrier integrations, and hardware options into the mix we will provide a greater spectrum of options for customers.”
The PWS team was advised by Skyway Capital Markets.
