FLORHAM PARK, N.J., Nov. 24, 2020 /PRNewswire/ -- PCS Wireless LLC ("PCS Wireless"), a global leader in logistics and technology for the secondary market for mobile devices, announced today that it has formed TessaB Corp. The new corporation will acquire valuable assets from IGWT Block LLC ("IGWT"), a subsidiary of PCS Wireless that had been developing disruptive technology for buying and selling mobile devices, including a blockchain platform known as TessaB. Flavio Mansi, former President of IGWT, will become TessaB Corp's Chief Executive Officer, and Guy Kuperman will serve as Chairman.
PCS Wireless founded IGWT in 2018 to build a new, innovative ecosystem for pre-owned mobile devices and related services on a blockchain technology platform called TessaB, which will now become the official name of the newly independent corporation. Under the leadership of Flavio Mansi, who previously served as IGWT's President, the new TessaB Corp. will continue to expand and build out the TessaB platform. Leveraging PCS Wireless's proven track record in the secondary wireless market and its industry know-how to create a new category within the telecom mobile industry, TessaB will flourish independently using a blockchain technology stack to develop a more transparent, and secure ecosystem for new and pre-owned phones and related services.
The initial Board of Directors of TessaB will feature a wealth of talent, including Guy Kuperman as the Chairman and, Andy Kahn, Ben Nash, Flavio Mansi, and Rafael Ilishayev as Directors.
"The global market for used phones is tremendous. We forecast it'll be worth $67 billion by 2023. With such a high level of fragmentation, it's inevitable that someone will come in and disintermediate this undertapped category," said William Stofega, Program Director, Mobile Device Technology and Trends, IDC.
"The formation of TessaB marks the growth and maturity of PCS Wireless's vision to establish a technology business that transforms the mobile device industry. TessaB has the potential to transform our core business and we believe blockchain technology will make that possible," said PCS Wireless Co-Founder and CEO, Ben Nash. "Our goal has always been to invest in the future and safeguard our business in a sustainable way. I am pleased to name Flavio CEO of TessaB given his expertise and leadership vision for TessaB and am also delighted to announce Guy as the new Chairman of TessaB, who will ensure a new era of expansion for the newly established company," he added.
"It is important to recognize how increasingly dependent our society has become on mobile devices as an indispensable tool all families and professionals rely on. The objective of TessaB is to make the second-hand category more efficient and trustworthy with a next generation framework," said CEO Flavio Mansi. "I'm delighted to head the great team of this newly established innovation-driven organization and thankful to PCS Wireless for believing in the mission to redefine how mobile devices will be bought and sold. This new separation from our founding company will provide us with added flexibility to further strengthen our paths toward a new phase of productivity and industry leadership" added Mansi.
About PCS Wireless
PCS Wireless is a global logistics and technology company serving the secondary market for phones, tablets, wearables and other related accessories. With device processing capabilities in five countries, it sells devices in more than 80 countries worldwide. PCS Wireless has a widespread multichannel customer base and network of industry partners that includes telecom carriers, OEMs, wholesalers, retailers, eCommerce and logistics providers in the Americas, Asia-Pacific, and EMEA.
As an industry innovator, PCS Wireless is a leading pioneer in the second-hand phone marketplace. Its innovation-driven business is fueled by its strategic investments, including a portfolio of data, tech and transformative businesses geared towards growing and expanding the reach of PCS Wireless. For additional information, please visit: www.pcsww.com.
About TessaB Corp.
TessaB Corp. is a technology company focused on reinventing the mobile device ownership experience. Leveraging blockchain and innovative mobile diagnostics technology, TessaB is creating an ecosystem of mobile device buyers, sellers, and vendors that strives to make every transaction transparent and every price fair.
The TessaB technology platform is designed to solve inefficiency and trust issues that plague the secondary market for mobile devices and related services, enabling consumers to buy and sell mobile devices, accessories and related services with an unprecedented level of trust and security. For more information visit www.tessab.com and follow us on: LinkedIn, Facebook, and Twitter.
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SOURCE IGWT Block