Kigen / Trasna JV & Reverse Takeover Update

(Reuters: AMOI.L, Bloomberg: AMOI:LN)

("Anemoi" or the "Company")

Kigen / Trasna JV

&

Reverse Takeover Update

Anemoi is pleased to note the latest strategic announcement from Trasna, in which the Company has entered into a share purchase agreement to acquire 100% of the Trasna Group of companies for a total consideration of $150m by way of a reverse takeover.

(https://www.trasna.io/blog/kigen-trasna-esim-managed-services)

Trasna is a leader in the high growth eSIM secure provisioning segment, enabling enterprises and their customers to embrace IoT connectivity through ensuring high-assurance security, efficiency and automation, at scale.

The eSIM market alone is forecast to grow to $5.8bn by 2030 from $1.2bn in 2024, implying a CAGR of almost 30%, driven by technology advancements and the increasing adoption of IoT across both enterprises and consumers.

This strategic collaboration between Trasna and Kigen, two leaders in eSIM secure provisioning technology, will create a go to market solution in the delivery of a top-tier eSIM managed service with geo-redundancy.

Kigen – Trasna JV Announcement 27 February 2026

“Cambridge, Dubai/London — 27th February 2026: Trasna and Kigen today announced an expanded strategic collaboration focused on eSIM managed services and secure data management for eSIMs, including over-the-air subscriptions and device management.

The joint offering combines the companies’ eSIM server expertise to deliver a managed service with geo-redundancy with secure servers in Dublin and Dubai, 24x7 customer support, and enhanced operations and maintenance—helping enterprises simplify mass-scale IoT with a focus on security, efficiency, and automation.

As IoT becomes essential to modern operations at scale, converging cybersecurity regulations are increasing the need to integrate security lifecycle management into the software stack. In this environment, eSIMs are increasingly seen as a digital trust anchor for managing identity, credentials, and subscriptions across globally distributed deployments.

Trasna and Kigen are recognized leaders in eSIM provisioning, orchestration, and entitlement services, with deep experience in remote provisioning and standards implementation, including GSMA SGP.32 readiness and automation. Kigen achieved the industry’s first GSMA-compliant server for the Kigen eIM in 2025, the key SGP.32 component simplifying eSIM lifecycle management, including deployment, monitoring, and updates. Trasna has a strong established base with 20 billion SIM, eSIM and profiles delivered.

Trasna delivers end-to-end IoT cellular connectivity solutions spanning cellular IoT modules, SIM/eSIM and related services, and device management platforms. Trusted by over 250 brands across 80+ countries, Trasna combines deep technical expertise with integrated chip-to-cloud capabilities to simplify connectivity, enhance control, and support scalable, future-ready deployments. By uniting hardware and cloud-based lifecycle management, Trasna enables customers to drive efficiency, innovation, and long-term competitive advantage.

Stéphane Fund, CEO of Trasna:

“Our expanded collaboration with Kigen reflects the scale and maturity the IoT market now demands. As enterprises accelerate SMDP+ adoption and prepare for GSMA SGP.32-driven automation, they require secure, resilient, and fully managed eSIM infrastructure. Together with Kigen, we are combining proven server expertise, geo-redundant operations and deep lifecycle management capabilities to deliver a trusted, enterprise-grade eSIM managed service that simplifies global IoT at scale.”

Vincent Korstanje, CEO of Kigen:

“By strengthening this collaboration, Trasna and Kigen have created a managed service that combines the eSIM server performance and dedicated environments, including high-quality security assurances with a wide customer base. This enables customers to rapidly launch and scale eSIM solutions, reduce infrastructure costs, and contribute to the expansion of our customers’ businesses. We are confident that this initiative is an innovative step to catalyzing eSIM utilization.”

With expanded joint delivery capability and customer reach, the companies aim to accelerate adoption and strengthen market influence as IoT eSIM deployments scale worldwide.”

Commenting, Duncan Soukup, Anemoi Chairman, said:

“I am extremely pleased to see the collaboration announcement between Trasna and Kigen, both of which are market leaders in their own right. This collaboration provides the potential to accelerate their penetration in the high growth global eSIM market.”

“It is our understanding that Trasna hopes to compete for up to 10% to 15% of the eSIM market, estimated to amount to $5.8bn by 2030, which has the potential to represent a very substantial annual revenue opportunity for the Company over the medium to long term”

The issuer is solely responsible for the content of this announcement.