Connectbase Acquires London-based LastMileXchange
Acquisition of LMX expands Connectbase's global connectivity marketplace
BOSTON, May 15, 2023 /PRNewswire/ -- Connectbase, The Industry Cloud for Connectivity, is acquiring London-based LastMileXchange (LMX), growing the Connectbase brand globally. Following this acquisition, Connectbase will have the largest global API ecosystem securely connecting buyers and sellers across six continents with more than 2 billion unique locations in The Connected World platform. Current Connectbase clients will benefit from the extended reach across EMEA and APAC that LMX brings to the Connectbase platform, and the LMX customer base will have the ability to access the industry's leading global connectivity marketplace through Connectbase.
LMX provides communication service providers across the globe with cloud-based access pricing solutions to automate, accelerate and streamline the quote-to-order sales process. The LMX reach enables platform customers to connect 450+ access vendors worldwide and processes over 15 million quotes per year. Connectbase is the industry-leading marketplace that enables the digitization and automation of connectivity commerce. Connectbase's rich ecosystem of network buyers and sellers and powerful location data and insights empower customers to transact digitally with quoting, ordering and more to drive growth.
"The Connectbase vision has always been global," said Ben Edmond, CEO and Founder at Connectbase. "Bringing the LMX reach, offerings, customer base and team into the Connectbase fold follows through on our longer-term strategic vision and brings incredible additional value to the existing customer base of both companies. With this acquisition, we are deepening our presence across EMEA and APAC, and furthering our journey as a truly connected global platform. For the past 18 years, LMX has built impressive digital off-net quoting solutions serving global telecom carrier customers. Now, as part of the Connectbase ecosystem, LMX customers will be able to further transform and automate their network buying and selling functions easily."
All LMX employees will transition onto the Connectbase team. By bringing together the resources, customers and competencies of both companies, Connectbase will continue to scale and achieve accelerated growth, expanding the global ecosystem for connectivity and infrastructure service providers.
"The combination of LMX's precise, fast and accurate global quoting with Connectbase's expansive market data, rich ecosystem, and automated quoting across North America brings great value to our LMX clients and the future of our business," said James Grant, Co-Founder of LastMileXchange.
Andrew Hoskin, Co-Founder of LMX, added, "Our missions deeply align; both companies recognize how critical connectivity, automation and data are in serving network providers globally and, ultimately, their customers. Together, we are creating a global marketplace to modernize the way the world connects."
This announcement is Connectbase's first acquisition, and the latest in a series of news around the company's investments in growing its platform capabilities and expanding services. In late 2022, Connectbase raised $22 million in Series C funding, led by DigitalBridge Ventures. With this latest funding round, Connectbase has been enhancing its platform capabilities, investing in the team and expanding digital services into additional markets around the world.
About Connectbase
Connectbase is The Industry Cloud for Connectivity. Connectbase is a partner to the industry, enabling next generation buying and selling of connectivity, including automated quoting, and providing deep, trusted insights. Connectbase's industry-leading platform, The Connected World, serves almost 300 providers globally, managing 2.4 billion locations across more than 150 countries. The Connectbase team has built a connected ecosystem transforming network buying and selling processes, creating a marketplace for connectivity that removes the friction in the market. Visit Connectbase at www.connectbase.com and follow us on LinkedIn at linkedin.com/company/connectbase-us/.
About LMX
LastMileXchange (LMX) provides Communication Service Providers across the globe with cloud-based access pricing solutions, enabling them to automate, accelerate and streamline the quote-to-order sales process. LMX is the trusted access quoting partner for 50 percent of the world's leading global carriers, as its platform connects 450+ access vendors worldwide, processing 15 million quotes per annum.
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