Proximus Group, a leading provider of communication solutions and digital services, recently announced its acquisition of BICS. BICS is a pioneering international communications enabler offering sensational mobile experiences worldwide. Proximus has now officially purchased the Swisscom and MTN shares in BICS (22.4% and 20% respectively) for a value of 569 million euros.
This acquisition makes Proximus the sole shareholder of Telesign and BICS. Following this purchase, BICS will be able to accelerate its plans for growth through both a focus on cashflow generation in its core services, and organic investments. BICS will also be able to unlock more in-market consolidation opportunities.
Gaining Complete Ownership of BICS
In 2020, Proximus shared with the market that the shareholders in BICS were considering a potential sale of 51% of the shares in the company. After investigating various options, Proximus decided would be to acquire 100% ownership of the business. However, Swisscom and MTN will continue to be valuable commercial partners for BICS.
As a leader in cloud communications, digital communications, IoT and mobility, BICS addressees a range of business-critical demands for the telecom’s marketplace right now, supporting Virtual Network Operators, Enterprise Software Providers, Service Providers, and Global Enterprises alike. Thanks to a powerful global operating platform, BICS has diversified its activities recently, demonstrating massive growth potential in various areas like IoT, roaming, and communication in the cloud.
While impacted by travel restrictions that emerged during the COVID-19 pandemic, BICS is still on the road to progressive recovery as the world continues to rediscover travel opportunities.
Telesign, a fast-growing digital company offering authentication and digital identity opportunities for the world’s leading internet brands is also owned by BICS, and now Proximus. Since the acquisition from BICS, this company has earned double-digit revenue growth each year. With new CEO, Joseph Burton, Telesign is set to receive increased independence to focus on building growth.
