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Network Infrastructure Magazine | Tuesday, March 01, 2022
CrossMobile prepares to expand value-added services throughout Europe.
FREMONT CA: “The acquisition of CrossMobile is a major milestone in the evolution of WHEN Group and provides us with a strong foothold in the European market,” states WHEN Group CEO Giora Rosenzweig. World Health Energy Holdings (WHEN Group or the Company), a cybersecurity company with proprietary technologies that protect individuals and businesses from cybersecurity threats, has agreed to acquire an initial 26 percent of CrossMobile, a licensed mobile virtual network operator (MVNO) in Poland with the necessary licenses and critical infrastructure to service the entire population. The Company has the option of eventually acquiring a majority stake in CrossMobile. The acquisition of the initial stake will be completed in conjunction with the increase in CrossMobile's authorized capital.
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“We now join a small, rarified group of licensed operators in the EU, giving us a formidable foundation from which we can generate significant long-term growth as we roll-out a comprehensive suite of value-added services for B2B and B2C customers and participate in the transformation of the future of the telecom industry,” adds Rosenzweig.
According to Market Research Future, the global mobile value-added services market will reach $309 billion by 2025, increasing at a 15.3 percent compound annual growth rate.
“WHEN Groups acquisition of CrossMobile marks the beginning of a new standard of service in telecom,” comments Tom Tromer, CEO of CrossMobile. “Together we plan to invest in the technologies of tomorrow that enable us to deliver flexible solutions that meet the demanding and ever-changing needs of customers, from large enterprises to individual consumers.”
“Unlike large legacy operators, we have the agility to quickly capitalize on new opportunities,” concludes Rosenzweig. “Our ability to address changing market demands provides a distinct competitive advantage. Combining this advantage with our unparalleled cybersecurity solutions and other next-generation value-added services place us in a great position to scale operations, and I fully believe successfully executing on this strategy can generate several hundred million dollars in annual revenues with greater than 25 percent margins at scale.”
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