Raco Wireless expanded its presence in the machine-to-machine space, announcing carrier contracts with Telefonica and Sprint Nextel. The deals include the integration of Raco’s Omega Management Suite that allows its customers to manage their M2M services.
Raco noted the deal with Sprint Nextel provides the company with access to the carrier’s domestic CDMA and LTE networks, while the Telefonica deal expands its GSM-based offering in Europe and Latin America. Raco currently has M2M arrangements with T-Mobile USA and Everything Everywhere, providing its customers with access to GSM-based services across the United States, Central America, South America and Europe.
Private equity firm Inverness Graham took controlling interest of Raco last October for an undisclosed sum.
The M2M space has been gaining traction across the mobile space as carriers look for alternative ways to garner revenues from their networks. M2M connections are seen as an attractive model as acquisition and operating costs associated with accounts are quite low.
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