The acquisition, which closed today, is for 100% of the shares in Phronesis Technologies Ltd and will enable TMT to offer its existing and new customers an extended portfolio of products and data sets.
The deal further enables TMT to expand its range of identity services and grow its customer base.
The acquisition accelerates TMT’s ambition to be a leading provider of mobile and device intelligence globally, trusted by many of the world’s leading businesses.
17th of July 2023, London. TMT Analysis (TMT), a leading mobile number and device intelligence company has acquired UK based Phronesis Technologies Ltd. The deal enables TMT to further expand its range of products and services in the growing mobile and device identity market.
In today’s increasingly digital world, the importance of having stringent authentication and verification checks in place for organisations is becoming increasingly important across multiple industries and geographies.
The global digital identity management solutions market has grown significantly over the last few years and is projected to reach $70.8 billion by 2030. TMT’s acquisition of Phronesis marks a significant step in the firm’s journey towards cementing its position as one of the world’s go-to mobile identity companies, capitalising on the rapidly growing market, helping businesses around the world to protect their reputations by adhering to ever-evolving regulatory requirements, and cementing trust amongst their customers.
John Wilkinson, CEO and Co-founder at TMT Analysis said: “We are thrilled to welcome Phronesis into the TMT family. Over the years, Phronesis has been serving brands using smart technology to verify their users. The acquisition enables us to offer these clients richer, more enhanced insights in mobile number intelligence.”
“For TMT, this is just the first step in our mission of becoming a leading provider of mobile identity services in the global digital identity market. As the need for our solutions increases, we have seen strong organic growth and have plans for further acquisitions in the market. We’re looking forward to further enhancing our offering though this acquisition, rolling out our services to more organisations across the globe.”
James Trenholme, CEO of Phronesis, said: “With the dangers of fraud at an all-time high it is more important than ever to offer unique mobile insight that safeguard our digital identities and protect that super important customer experience. I am delighted that Phronesis will continue to provide mobile network biometrics services as part of the wider TMT group of companies.”
About TMT Analysis
TMT Analysis Ltd is a leading provider of information and intelligence on every mobile number and devices globally. Its services are used by many of the world’s leading organisations across multiple sectors.
Using real-time data from mobile networks and devices globally, Phronesis helps businesses to positively identify new customers, authenticate users and protect transactions from identity fraud and attacks.
How We Can Help Your Customer Validation
Mobile Network Operator (MNO) data has become a necessary part of businesses’ authentication, onboarding, and fraud prevention strategies due to its high-trust and authoritative nature. The data held by the MNOs can be matched with user-provided information – all that is required is a mobile phone number.
Furthermore, companies such as Phronesis can enhance the verification of a user’s identity by giving confidence that the SIM card and device being used in real-time belong to the mobile number provided. A silent device session check can even make the OTP and password redundant.
Customer validation doesn’t have to be expensive and frustrating. We built an easy-to-use framework which integrates into your existing systems, hassle-free. Our API gives you immediate access to vital data insights surrounding a mobile number and the device attached which are used to instantly validate a user.
Giving you confidence in customer identity and device possession.
By adding MNO data to authentication strategies, companies are increasingly being able to go password-free, improving both security levels and customer satisfaction.
To find out more about bringing MNO data into your business, book a free, introductory call. We would love to help you identify and authenticate customers.
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