Somos Acquires XConnect
Bowen Serves as Strategic Advisor to Somos
BOSTON, September 8, 2021 – Bowen is pleased to announce that Somos, Inc., a global source of number administration, routing data, identity verification and identity management services for the telecommunications ecosystem, has acquired XConnect, a London-based provider of telephone number information services. The combination of the two companies creates a global identity management platform for marketers, communications and other industries that depend on mobile and telephone numbers for services delivery and identification. Bowen acted as the exclusive buyside M&A advisor to Somos in this transaction.
Somos is a tech-enabled service provider that administers various numbering registries, including the North American Numbering Plan (NANPA), Toll-Free Numbering (TFNA), and the Reassigned Numbers Database (RNDA). Over 1,400 service providers depend on Somos to manage 3.3 billion numbers to enable seamless communications between enterprises and consumers. XConnect provides trusted network and subscriber information on a worldwide basis, enabling accurate routing, fraud protection and identity verification.
“When we made the decision to pursue acquisitions as part of our growth and diversification plans, we wanted a buyside advisor that could translate our vision into execution,” said Gina Perini, Chair of the Board and CEO of Somos. “Bowen was a valuable partner throughout the entire buyside journey: helping to advance our strategic goals, identifying and prioritizing potential targets, and executing the transaction. We are very pleased with the result – adding XConnect will enable Somos to become the global leader in trusted numbering and identity information services.”
“Number identity is critical to omni-channel marketing, know your customer and fraud prevention, and communications services,” said Bill Rich, Managing Director at Bowen. “Numbering leaders like Somos are well-positioned to serve these markets with advanced information services. Bowen’s Cloud & Communications practice is at the forefront of communications and data technology and services. We look forward to working with innovative companies in the communications ecosystem.”
Click here for Somos’ press release.