Massachusetts, USA-based provider of an Industry Cloud for Connectivity, Connectbase acquired London, UK-based cloud-based access pricing solutions provider, LastMileXchange. The company announced the acquisition on May 15, 2023. However, it did not disclose the amount of the transaction.
Purpose of acquisition by Connectbase
With the latest acquisition of LastMileXchange, Connectbase now boasts the largest global API ecosystem, securely connecting buyers and sellers across six continents with more than 2 billion unique locations in The Connected World platform.
Meanwhile, Current Connectbase clients will benefit from the extended reach across EMEA and APAC that LMX brings to the Connectbase platform. On the other hand, LMX’s customer base now claims to have access to the industry’s leading global connectivity marketplace.
As a part of the deal, all LMX employees intend to join the Connectbase team. In addition, Connectbase has plans to continue to scale and achieve accelerated growth, expanding the global ecosystem for connectivity and infrastructure service providers.
What the Connectbase official has to add
Ben Edmond, CEO and Founder at Connectbase, said, “The Connectbase vision has always been global. Bringing the LMX reach, offerings, customer base and team into the Connectbase fold follows through on our longer-term strategic vision and brings incredible additional value to the existing customer base of both companies. With this acquisition, we are deepening our presence across EMEA and APAC and furthering our journey as a truly connected global platform. For the past 18 years, LMX has built impressive digital off-net quoting solutions serving global telecom carrier customers. Now, as part of the Connectbase ecosystem, LMX customers will be able to further transform and automate their network buying and selling functions easily.”
What the investors have to add
James Grant, Co-Founder of LastMileXchange, further said, “The combination of LMX’s precise, fast and accurate global quoting with Connectbase’s expansive market data, rich ecosystem, and automated quoting across North America brings great value to our LMX clients and the future of our business.”
In addition, Andrew Hoskin, Co-Founder of LMX, added, “Our missions deeply align; both companies recognize how critical connectivity, automation, and data are in serving network providers globally and, ultimately, their customers. Together, we are creating a global marketplace to modernize the way the world connects.”
About Connectbase
In 2015, Ben Edmond launched the company. Connectbase is The Industry Cloud for Connectivity. The company is a partner to the industry, enabling next-generation buying and selling of connectivity, including automated quoting, and providing deep, trusted insights.
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