Manx Telecom Plc (AIM: MANX; the “Company”), the leading communication solutions provider on the Isle of Man, is delighted to provide the following update on its business incubator, Vannin Ventures, and the lead investment in its portfolio, Goshawk Communications (“Goshawk”).
Goshawk Communications has selected PDMS to develop the customer facing features of its enhanced hearing mobile service, which will be available to Manx Telecom Pay Monthly customers later this summer in a world’s first launch on the Island.
Vannin Ventures, the subsidiary of Manx Telecom established to identify new long term growth opportunities, has announced their majority shareholding in a new Isle of Man company, Goshawk Communications Limited, that will provide pioneering technology to help mobile phone users with hearing loss. In the UK alone, nine million people experience varying degrees of hearing loss, affecting their ability to use voice services on mobile phones. Using personalised auditory profiles that are created for each user, the new company combines intellectual property originally developed by the Goshawk team, with the commercial and technological capability of Vannin Ventures.
Commenting on the creation of this exciting new joint venture, Tom Meageen, Managing Director of Vannin Ventures, said: “Today is another significant milestone in our growth plans following the acquisition of local telecoms software company Partitionware at the end of last year. Through clinical trials conducted in the Isle of Man over the last 18 months we have shown that the technology can have a transformative effect in improving communication for those suffering from hearing loss. There is also a significant global market into which this technology can be extended. To establish a new company on the Island that will be our research and development centre and operations hub for the business, is particularly pleasing and a key part of Vannin Ventures’ strategy to incubate and grow new businesses on the Island.”
Goshawk Communications Limited CEO Matthew Turner will relocate from the UK to establish Goshawk Communications on the Island. He said: “We are really proud to see our technology become part of something that has all the ingredients and potential to improve the lives of millions of global users. As a hearing impaired person myself, I am passionate about the benefits this technology can bring. I am particularly impressed with the Isle of Man as an international business centre and look forward to the future success of this venture.”
Vannin Ventures, the Manx Telecom owned company which identifies new opportunities in the telecommunications and technology sector, has today acquired telecoms solutions specialist Partitionware.
Partitionware is an Isle of Man based company which supplies a wide range of innovative telecoms solutions to service providers around the world. The acquisition will support Vannin Ventures’ mission to deliver transformational growth by developing disruptive technologies and bringing innovative products and services to market.
Tom Meageen, Director at Vannin Ventures, said: “The acquisition of Partitionware is the first step in our strategy to build a company that will deliver new products, services and technology to the Isle of Man. I look forward to working with Mike and his team and growing our businesses by leveraging our combined technical and commercial capability.”
Mike Bromwich, CEO of Partitionware, commented: “We’re delighted to combine our industry leading technology capability with Vannin Ventures. Pooling our expertise ensures we are exceptionally well placed to continue growing and innovating in the market, which not only benefits new and existing customers, but the Isle of Man as a whole.”
Manx Telecom has launched Vannin Ventures, a new standalone business established to support the company’s long term growth strategy.
Manx Telecom CEO, Gary Lamb, explains: “Vannin Ventures is a new business, wholly owned by Manx Telecom, and its purpose is to identify new and promising business opportunities in the telecoms and technology sectors, acting as an incubator to bring innovative products and services to market. There will be an autonomous team behind the new business, who will not only have a new and creative environment to foster original ideas, but will also benefit from the support of its parent company, Manx Telecom. Most importantly, Vannin Ventures will have an entrepreneurial ethos with the flexibility necessary to move quickly and take exciting ideas from inception through to launch.”
Vannin Ventures is led by Tom Meageen and Peter Callow, who both have extensive experience in the communications sector. In his most recent role, Tom was responsible for setting up and running Manx Telecom’s international business which now forms a significant part of the company’s overall revenue, while Peter also brings a wealth of commercial telecoms business experience.
Tom Meageen commented: “Vannin Ventures will use technology to bring new products and services to market by providing the perfect incubator environment to help new ideas flourish and grow. The launch of Vannin Ventures is not only great news for Manx Telecom, it’s also positive news for the Isle of Man as it demonstrates the Island’s ability to innovate, whilst creating new jobs in the longer term.”