Internet of Things service provider Sim Services has been acquired by global IoT player Arkessa. Founded in 2009, Sim Services is a provider of SIM card services and Internet of Things connectivity services. Hogenhouck m&a advised the shareholders of Sim Services on this transaction.
Secure and easy Internet of Things connectivity services
In the next ten years, billions of appliances and ‘things’ will be connected to the internet. From cars to refrigerators and 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 have developed the company into a high-quality service provider with a high level of service and tailor-made solutions for mobile providers in Europe. They were supported in this by co-shareholders Ronald Hameeteman (founder of e-office) and Thierry Lammers (Blaud).
Selling a company is not a simple matter
Rutger Stekelenburg, CEO of Sim Services, reflects on his experience during this process: “Selling a company is not a simple matter. Especially if you are looking for the best outcome for your colleagues, your customers and of course for yourself. Emotions come and go in all varieties and intensities. Therefore, having external and objective guidance is an absolute must. You should consider it an investment, with a high return.”
“Hogenhouck, our m&a partner, has proven to be of great value. Iris van Weel has been our anchor in this process, always putting our interests first. Nevertheless, she has also been appropriately strict to us in situations where we might have been tempted to go for a sub-optimal solution, at times driven by emotions. Thanks to Hogenhouck’s approach we were presented with several potential buyers and they supported us in making the best choice for all stakeholders involved. The result is a better deal but also a more pleasant process.”
Service portfolio and culture fit well together
Sim Services’ portfolio is 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 in a secure, efficient and scalabe way.
Rutger Stekelenburg says: “Our entire team is enthusiastic about this collaboration. From a cultural point of view, Arkessa fits perfectly with Sim Services. We share the ambition to make Internet of Things connectivity easy. With this partnership we can offer more options and broader services to our growing customer base, such as with their LPWAN and eUICC capabilities. We are therefore pleased that we can join forces with such a dynamic and fast-moving team. ”
Andrew Orrock, Arkessa CEO, comments: “We look forward to working with Sim Services to shape our international growth in the IoT market. Rutger and Jeroen have a good position in Europe, with a highly qualified team, a clear focus on client needs and excellent service. We are very pleased to welcome Sim Services to the Arkessa Group.” Since 2018 Arkessa has been supported by ECI Partners, a leading mid-market private equity firm.