World Health Energy Holdings (“WHEN Group”), a cybersecurity company with proprietary technologies developed to protect individuals and enterprises from cybersecurity threats, has signed a Letter of Intent (“LOI”) to acquire CrossMobile Sp.z o.o. (“CrossMobile”), a licensed full mobile virtual network operator (“MVNO”) in Poland.
WHEN Group CEO Giora Rosenzweig said,
“The acquisition of CrossMobile will give WHEN Group a strong foothold in one of the most advanced telecomm markets in Europe.
Securing a Polish full MVNO license will enable WHEN Group to service not just Poland, but the entire population of 540 million in the EU, while providing the Company the necessary infrastructure to accelerate the market launch and marketing of our proprietary cybersecurity solutions.”
According to Prescient Strategic Intelligence, the European MVNO market generated $27.7 billion revenue in 2020 and is expected to grow at a CAGR of 5.8% through 2030 when it is forecasted to reach $48.7 billion.
In addition to offering innovative cybersecurity solutions through CrossMobile, the company plans to offer low-cost roaming, cloud IP PBX, virtual conference, SMS for business, Internet of Things (IoT), and other value-added services that provide strong competitive advantages and opportunities for rapid growth.
Under the terms of the Letter of Intent, WHEN Group will initially purchase 26% of CrossMobile with the option to ultimately acquire controlling interest.
“Acquiring CrossMobile would provide WHEN Group a formidable foundation for long-term growth with the potential to generate several hundred million dollars in annual revenues with greater than 25% margins at scale. And we could reach these considerable numbers in as little as five years,” added Rosenzweig.
“The addition of our cybersecurity monitoring solutions and other next- generation services will create a truly unique value-added IT platform for the B2B and B2C markets.”
Tom Tromer, CEO of CrossMobile, added,
“GSM solutions enhanced with added value services such as VoIP, IoT, and cybersecurity address many top issues in an increasingly connected world.
Providing customers with affordable solutions to protect themselves on and off cyberspace gives us an extremely durable competitive advantage.”
