Ericsson has agreed to sell its majority stake in iconectiv, a digital identity and number portability solutions provider, to Koch Equity Development (KED) for SEK 10.6 billion (about $1 billion). The sale includes Francisco Partners’ nearly 17 percent stake in iconectiv, which it acquired in 2017. The transaction, subject to regulatory approvals, is expected to be finalized in the first half of 2025.
Based in New Jersey, iconectiv serves over 5,000 customers globally, including major telecommunications service providers and regulatory bodies. The company is a notable player in number portability solutions and digital identity management and is the Number Portability Administrator in ten countries, including the United States.
It also manages critical U.S. telecommunications infrastructure, such as the Short Code Registry and the Secure Telephone Identity Policy Administration (STI-PA). The Short Code Registry is a database that manages the assignment of short codes (typically five- to six-digit numbers) used for mass text messaging services, while the Secure Telephone Identity Policy Administration (STI-PA) oversees the implementation of measures to prevent illegal robocalls by authenticating caller identities in the U.S. telecommunications network.
KED views the acquisition as a strategic expansion into telecommunications software and data services. The move builds on its 2021 acquisition of Transaction Network Services, Inc. With KED’s backing, iconectiv is expected to pursue both organic and inorganic growth opportunities.
Source: Mobile Europe
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August 19, 2024 – by the Mobile ID World Editorial Team
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