Trustonic acquires Latin American mobile device locking provider SITIC

Cambridge, UK headquartered Trustonic has acquired leading Latin American mobile device locking provider SITIC for an undisclosed sum. Trustonic says the acquisition extends the company’s lead as the world’s biggest global smartphone locking provider.

Initially created from a joint venture between Arm, Gemalto and G&D, Trustonic has 120 patents registered, a rich intellectual property creation strategy and the highest certifications in the cybersecurity industry.

Trustonic is on a mission to solve Android device affordability and delinquency for its customers globally. Its Telecoms Platform service has successfully reduced device payment delinquency and bad debt by up to 70 per cent in multiple markets. This performance is achieved through sophisticated messaging and device locking capability, which nudges customers to pay their bills on time.

Now operational across 20 countries, Trustonic has expanded its global reach, growing devices protected by over 200 per cent year on year.

In acquiring SITIC, Trustonic has successfully increased its deployment capabilities and range of services available to both existing and potential customers across the globe. The company says this will empower a greater number of mobile carriers, retailers, and financiers to sell more devices, grow and protect revenues without incurring additional commercial risks.

Dion Price, Group CEO, said: “The Trustonic mission is simple – to help our customers connect the next billion smartphone users and to reduce bad debt across the entire global smartphone user base. Device locking is crucial to support this aim. Therefore, adding the SITIC technology and customers to our own portfolio significantly extends our current market lead and brings us closer to our ultimate goal.

“We now look forward to working closely with the SITIC team as we continue to drive the business forwards and broaden our offering in the Latin America market.”

Hector Corredor, Commercial Director of SITIC added: “Over the last few years, the SITIC team have worked extremely hard to develop and evolve our device-locking technology to help our customers in both managing and reducing smartphone delinquency and bad debt.”