SoftBank Corp, a leading Japanese communication and information technology service provider, says it has secured an equity stake in German company 1NCE, described as the only provider of connectivity and software for IoT at a global flat rate. It has also signed an exclusive distribution deal covering the Asia-Pacific (APAC) region.
Daichi Nozaki, Vice President, Head of Global Business Division, Enterprise Business Unit at SoftBank Corp, says: “1NCE is the only company that can deliver true cross-border, future-proof IoT connectivity without uncertainty – a perfect extension of SoftBank Corp's existing IoT portfolio.”
He describes the APAC region as underserved and expects “explosive growth” in that area. SoftBank will sell 1NCE IoT services exclusively in 19 APAC markets.
1NCE, in partnership with operators, now delivers connectivity and software to more than 110 countries, with plans to expand its footprint to more than 140 by the end of 2022.
1NCE will open sales offices and technical operations in Singapore and Tokyo to expand its service capability to Australia, Bangladesh, Cambodia, China, India, Indonesia, Japan, Malaysia, Myanmar, Nepal, New Zealand, Pakistan, Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand, and Vietnam.
This isn’t the first SoftBank investment in the company. In September 2021 1NCE announced US$50 million in financing provided by investors including Deutsche Telekom, SoftBank and others.