Processor core developer ARM has bought a small real time operating system provider that focused on SIM cards to boost security for the Internet of Things (IoT).
The £12m deal came just eight months after the Foresight Group invested £4m in Simulity Labs, which develops embedded operating system software and related server systems for SIM cards and embedded SIMs ('eSIMs'), allowing Internet of Things (IoT) devices to securely connect to networks using cellular LTE modems.
Simulity successfully transitioned its business model to software licensing, launched into the IoT market with its eSIM technology and increased staff numbers by 25%, with new international offices in South Africa and India to supplement existing offices in Northern Ireland and Wales.
"The institutional backing of Foresight allowed us to scale the business and continue to build our world leading team and technology, whilst also providing huge credibility in discussions with large global corporates. Foresight has worked closely with us, particularly during the exit process," said Stéphane Fund, Founder and CEO of Simulity.
www.simulity.com is now flagged as part of ARM.