Full integration of mobile diagnostics solution to augment Blancco offering and create new opportunity in the device buyback, trade-in, insurance and warranty space
AUSTIN and LONDON — July 11, 2019 — Blancco Technology Group (LON: BLTG), the industry standard in data erasure and mobile device diagnostics, today announced it has agreed to acquire mobile device diagnostics solution provider, YouGetItBack Limited, trading as Inhance Technology. The transaction will enable Blancco to strengthen its existing retail capability and further improve its ability to offer and manage full-service mobile device buyback and trade-in programs, and device insurance policies. This includes giving consumers the ability to establish a trade-in value for their mobile devices and complete a trade in transaction, apply for insurance or make a claim, without having to visit a retail store.
Blancco will also leverage Inhance Technology’s expertise and customer base to carve new market opportunities for the new combined entity. This includes providing customers of both organisations with a unique ability to map the journeys of their customers devices from the retail environment, all the way through backend processing.
Blancco has operations in more than 15 countries and already operates at every stage of the secondary mobile device ecosystem. It offers a complete and unrivalled service to mobile operators, OEMs, third-party logistics providers (3PLs), mobile device insurance companies and warranty providers. Once integrated within Blancco’s offering, the Inhance Technology solution will enable these mobile device processing organisations to securely streamline their operations, by remotely assessing the condition of used devices, saving time and preserving device value for their customers at the point of trade-in.
“We are very excited to be part of Blancco’s organisation,” said William Fitzgerald CEO of Inhance Technology. “This is a really good outcome for our dedicated team here at Inhance and for the Cork region in general. The combined business is in a unique position to offer a very broad range of solutions to the market, and we look forward to the additional growth that this acquisition will bring.”
“Our decision to acquire Inhance Technology underlines our commitment to building the most compelling mobile device diagnostics and data erasure solution for our global customers,” said Matt Jones, CEO, Blancco. “Inhance Technology enables us to intuitively enhance the user experience for consumers looking to securely realise financial value from their old devices at the point of upgrade. It will also enable us to create new levels of engagement and customer satisfaction for mobile users. Our ability to enhance our retail capability, to better engage consumers at the front-end of the secondary device ecosystem marries perfectly with our technology and data security leadership in the back-end warehouse environment. We are very excited to be able to combine our collective strengths to deliver a highly robust end-to-end capability that will bring significant competitive advantage to our customers and prospects.”
The global secondary device market has been the subject of significant excitement and investment by its various stakeholders in recent years. Recent research has estimated that the volume of handsets being traded in will increase from 140 million in 2017 to 290 million in 2022, returning billions of dollars to consumers, operators and OEMs alike.