Internet of Things service provider Sim Services has been acquired by global IoT player Arkessa. Sim Services, founded in 2009, is a service provider for SIM card services and Internet of Things connectivity. Hogenhouck m&a guided the sale for Sim Services' shareholders.
Internet of Things connectivity services secure and easy
In the next decade, billions of devices and "things" will be connected to the Internet. From cars to refrigerators to sensors in the home. Sim Services is an independent service provider in the field of SIM card management and Internet of Things connectivity services for mobile providers. Entrepreneurs Rutger Stekelenburg and Jeroen Gijzen built the company into a quality provider with a high service level and customized solutions for mobile providers in Europe. In doing so, they were supported by fellow shareholders Ronald Hameeteman (founder e-office) and Thierry Lammers (Blaud).
Selling a business is not a simple matter
Rutger Stekelenburg comments on his experience of the sales process, "Selling a business is not a simple matter. Certainly not if you want the best for your colleagues, your customers and, of course, yourself. Emotions come and go in all shapes and directions. Having outside objective guidance is an absolute must. It costs you something, but brings you much more."
"Hogenhouck has helped us tremendously in this as an m&a partner. Iris van Weel has been our mainstay in this process, always putting our interests first. But she has also been appropriately strict with us when we ourselves, whether or not driven by emotions, wanted to make unwise moves. The result is a better deal but also a more pleasant process. In addition, it saves you an enormous amount of work. Hogenhouck's approach also resulted in us not only having more choice in potential buyers, but also being able to make a better choice in them."
Service and culture fit well together
Sim Services' services are a clear addition to Arkessa, a leading IoT connectivity provider with offices in the UK, Europe and the United States. Arkessa and Sim Services both aim to design, implement and manage Internet of Things connectivity securely, efficiently and scalably.
Rutger Stekelenburg, CEO of Sim Services, says, "Our entire team is excited about this partnership. Arkessa is a perfect cultural fit for Sim Services. We share the ambition to make Internet of Things connectivity easy. This partnership allows us to offer more capabilities and broader services to our growing customer base, such as with their LPWAN and eUICC capabilities. We are therefore pleased to join forces with such a dynamic and fast-moving team."
Andrew Orrock, CEO of Arkessa, commented, "We look forward to working with Sim Services to shape our international growth in the IoT market. Rutger and Jeroen are well positioned in Europe, with a highly qualified team, a clear focus on client needs and excellent service. We are very pleased to welcome Sim Services within the Arkessa Group." Arkessa has been supported by ECI Partners, a leading mid-market private equity firm, since 2018.
