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Hakan Koç & Pyrros Koussios on Acquiring Truphone

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In January 2023, German businessman and entrepreneur Hakan Koç and former telecoms executive and private-equity investor Pyrros Koussios completed their acquisition of Truphone, the first truly global mobile operator. 

They bought the assets and subsidiaries of Truphone Ltd. following the completion of the company’s restructuring and receipt of National Security & Investment Clearance from the Rt Hon. Grant Shapps MP, the Secretary of State for Business, Energy and Industrial Strategy (BEIS) as well as a license from the Office of Financial Sanctions Implementation (OFSI) at HM Treasury. 

 

Future-Focused Assets 

The assets of Truphone were acquired by TP Global Operations Ltd., a newly incorporated entity 100% owned by the Hakan and Pyrros, who immediately provided additional funding to support ongoing business and development focused on: 

  • The growing market of compliance solutions for recording mobile communications and messages for regulated financial institutions. This is a domain where 1GLOBAL already offers some of the most innovative solutions accepted by regulators, serving the increasing demands for compliance technologies that financial institutions like banks and asset managers are facing. 

  • 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 1GLOBAL network and its mobile virtual network operator (MVNO) licenses in nine countries (with new countries to be added) to develop and grow applications in the Internet of Things (IoT) space 


Insights from the Experts 

Commenting at the time on the acquisition, Pyrros Koussios said: “1GLOBAL is an innovative and highly specialized mobile telecommunications player, with established industry-leading R&D at the forefront of important innovations like the eSIM technology. We were attracted to the breadth and sophistication of the services offered. The company has continued to grow strongly in 2022 despite the uncertainties caused by its prior ownership and delivered growth well above 20%. This impressive performance underlines the quality and resilience of the business as well as the commitment of its employees.” 

Hakan Koç added: “I know a great tech company when I see one. 1GLOBAL’s R&D hub in Lisbon is impressive. We now look forward to executing on our accelerated growth plans and deliver new and innovative products for our customers. The funding that we are providing will accelerate capital investment in the core network, while building new software and API-driven digital capabilities to address not only the needs of enterprises but also those of tech companies. I consider myself the startup ambassador of the company and it reminds me of banking before the Fintech-wave: this may be one of the last big industries where tech meets legacy processes, and we are here to fix it – it will be fun.” 

Jeremy Fletcher, Former 1GLOBAL Chairman said: “We welcome today’s announcement and the certainty that it brings to the business. Koç and Koussios are both successful entrepreneurs, with the right experience, and now that the ownership issue has been resolved, they have a clear plan for growth and building the business for the future. We are delighted that despite the challenges that the company faced, with the help of the Government of the United Kingdom, and, in particular HM Treasury’s OFSI team and the BEIS ISU unit, we have been able to preserve the value of the business and protect the jobs of our employees.” 

Harry Odenhoven, Former CEO at 1GLOBAL, added: “1GLOBAL is a great business built on top of a privately owned and operated core global telecommunications network, offering a rich set of value adding communication services to sophisticated multinational clients with international communications needs. We are trusted by leading banks, device manufacturers, network providers and companies around the world– and have played a key role in supporting our partners with the challenges that the current macro-environment continues to bring. I want to thank all our customers and suppliers for the support and trust in the last year and the years to come.” 

With coverage in over 190 countries and with over 400 direct network agreements, 1GLOBAL offers a rich set of value adding communication services to 2,000+ multinational enterprise customers including most leading global investment banks. 1GLOBAL remains committed to delivering communication technology innovations addressing the needs of its demanding global clients. 

About 1GLOBAL

1GLOBAL is a distinguished international provider of specialty telecommunications services catering to Global Enterprises, Financial Institutions, IoT, Mobile Operators and Tech & Travel companies. 1GLOBAL is an eSIM pioneer, a fully accredited and GSMA-certified telco, a full MVNO in nine countries, fully regulated in 42 countries, and covers 190+ countries.

It delivers comprehensive communication solutions that encompass Voice, Data & SMS - all supported by a unique global core network. It’s constantly expanding portfolio of advanced products and services includes White Label eSIMs, Connectivity Solutions, Compliance and Recording, Consumer & M2M SIM Provisioning and an Entitlement Server.

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1GLOBAL is a trading name of TP Global Operations Limited.