TH1NG has acquired all shares of the IoT platform supplier IOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO. With this acquisition, TH1NG features management of IIOOTE’s operations in Sweden and Germany. It affords a merchandise that includes greater than 50 pre-packaged providers. This acquisition signifies that TH1NG now offers providers to roughly 40 municipalities in Sweden and is embarking on a world growth in Germany.
“This is a strategically great acquisition of a competitor that will now complement us and strengthen our development. The ambition is to integrate IIOOTE’s solutions with TH1NG’s IoT platform, IoT Open. Thanks to this integration, we will be able to optimise costs and expand our offering even further” says Klas Westholm, CEO of TH1NG.
IIOOTE Sweden offers providers to, amongst others, Central communitytogether with 9 municipalities, in addition to Servanet with six municipalities. IIOOTE additionally offers providers to plenty of company clients. All technical growth, innovation work, and gross sales in Swedish firm happen on the headquarters in Gothenburg.
“By integrating TH1NG‘s and IIOOTE’s technical solutions, we can both optimise the costs of services and broaden the functionality. We have a large customer base demanding more services, and with this acquisition, we add to our portfolio and expand our offering” says Westholm.
With the acquisition of IIOOTE, TH1NG additionally begins a world growth. IIOOTE Deutschland, liable for gross sales in German market, can also be a shareholder within the firm HEAT MANAGERwhich sells sensible options for power optimisation and heating management in properties. In Germany, the corporate has collaborations with the operator Melita and a number of other clients within the sensible metropolis sector.
“The deal means that TH1NG also establishes a foothold in Germany, and that we can find new customers in a new market. Together, we will be able to sell and deliver more services to both existing and new customers, thus increasing our revenue” says Westholm.
“We are looking forward to further developing IoT services within TH1NG. The need for an application platform supporting various types of services, independent of technology, is increasingly in demand. TH1NG is often asked the same question, and we find ourselves in a very clear synergy where one plus one equals three. Today, IIOOTE has around 40 customers in various smart applications, and we are ready to scale up significantly together. Thus, we are prepared for expansion and larger deals in a market where IIOOTE has gained a lot of trust” says Robert Spertina, CEO of IIOOTE AB.
Author: Shriya Raban
Date: 2023-09-21 04:19:31