June 2, 2018
Menlo Park, CA – GrowthPoint is excited to announce that their client, Stream Technologies, a leading IoT & eSIM Connectivity Management Platform, has been acquired by Arm Limited. GrowthPoint acted as the exclusive financial advisor to Stream Technologies, headquartered in Glasgow, Scotland.
As the proliferation of IoT devices continue to grow at an enormous rate, companies are challenged in connecting those devices across a multitude of networks in different locations and across different wireless protocols. Stream Technologies recognized early that this would be a problem and built a single pane of glass to manage the connectivity of every device regardless of location, network or wireless protocol.
Arm, along with their owner SoftBank, envision one trillion connected devices by 2035, driven by the opportunity for companies to derive real business value from the data residing on those devices. Arm has developed the Arm Mbed IoT Device Management platform to help organizations securely develop, provision and manage connected devices at scale. Combining Stream Technologies with the Arm Mbed platform will allow organizations to have a robust end-to-end IoT platform for managing, connecting, provisioning, and updating devices in a way that is easily scalable and flexible. “This scalability is critical as we move from billions to trillions of connected devices,” said Hima Mukkamala, Senior Vice President and GM, IoT Cloud Services at Arm.
We couldn’t be happier for the Stream team. They have worked tirelessly to build a great business and recognized early on the gap that organizations will face when deploying IoT devices at scale, regardless of location and protocol. Their unique solution makes the Trillion devices connected in 2035 a reality.
Nick DeRose, Rishi Mehta and Michael Shepherd from GrowthPoint advised Stream on this transaction. For further information, please see the press release.