Wednesday 25 January 2023

German businessman and tech entrepreneur Hakan Koç and former telecoms executive and private equity investor Pyrros Koussios have completed their acquisition of global mobile operator Truphone, the principals said.

The Investors are buying the assets and subsidiaries of Truphone Ltd., following the completion of the company's restructuring and the recent receipt of National Security and Investment Clearance from Rt Hon. Grant Shapps MP, the secretary of State for Business, Energy and Industrial Strategy as well as a license from the Office of Financial Sanctions Implementation at HM Treasury.

The assets of the Truphone business have been acquired by TP Global Operations Ltd., a newly incorporated vehicle that is 100% owned by the Investors.

The Investors intend to immediately provide additional funding to support the ongoing business and its future development, with a particular focus on its leading product offerings in the areas of:

The growing market of compliance solutions for recording mobile communications and messages for regulated financial institutions.

This is a domain where Truphone already offers some of the most innovative solutions accepted worldwide by regulators, serving the increasing demands for compliance technologies that financial institutions like banks and asset managers are facing

Its leading eSIM technology for supporting mobile network operators and global device manufacturers meeting customer demand for eSIM-enabled communications as more devices start shipping without traditional plastic SIMs

The unique international capabilities of the core Truphone network and its mobile virtual network operator licenses in nine countries - with new countries to be added - to develop and grow applications in the Internet of Things space

With coverage in over 200 countries and with over 400 direct network agreements, Truphone offers a set of value adding communication services to 2,000+ multinational enterprise customers including most leading global investment banks.