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SmartWave acquires MultiTech
- November 11, 2020
- Steve Rogerson
SmartWave Technologies has acquired MultiTech Systems. The two industrial IoT companies will operate as one under the MultiTech brand.
SmartWave, a Northlane Capital Partners platform investment, provides industrial IoT end devices.
From the earliest analogue systems, to the cellular heart of today’s industrial IoT, to the latest low-power wireless technology, MultiTech has connected critical assets to business infrastructure, and has been doing so for 50 years. Joining with SmartWave Technologies, MultiTech believes it is now in a position to grow the market size of connected IoT devices and accelerate OEM and enterprise digitisation.
The combined entity will drive deployment of proven industrial IoT first-to-market innovations in low power, wireless access and broadband, low-latency communication technologies, machine protocols, integrated sensors and mobile applications to scale the deployment of smart assets, durables and industrial consumables.
The new MultiTech entity will offer expanded expertise in wireless standards, electromagnetic sensor technologies, and component and refill authentication, as well as extended capabilities in industrial design and manufacturing and mobile applications.
“The internet of things marketplace extends across industrial and commercial segments, which, though possessing distinct characteristics, also share similar complexities,” said David Steinglass, partner at Northlane Capital. “By combining MultiTech’s strength in wireless technologies from LoRaWan to private LTE and soon 5G, with SmartWave’s consultative approach to design and commercialisation, we expect the new MultiTech business will be well-positioned to provide end-to-end connectivity to a wider range of customers while providing its current customers with the immediate benefit of a newly integrated IoT offering.”
Minnesota-based MultiTech designs, develops and manufactures communications equipment for the industrial IoT, connecting physical assets to business processes to deliver enhanced value.
“MultiTech has a reputation for best-in-class industrial communications equipment and a long history of customer service in critical industries around the world,” said Jack Vresics, CEO of SmartWave, who will serve as executive chairman of the combined entity. “We’re excited to help bring their award-winning portfolio of modems, routers and gateways to our key markets. Our customers will be well served with deployable, off-the-shelf devices, which complement our custom solutions and further reduce time to market.”
Founded in 1994 and headquartered in Toronto, SmartWave designs and manufactures components for products that require sensing, verifying or dispensing on behalf of companies in the healthcare, hygiene, sanitary, plumbing supply and other end markets.
“SmartWave’s extensive short-range wireless experience and knowledge of sensor technology is a natural complement to our portfolio of long-range wireless technologies for both public and private networks,” said Stefan Lindvall, CEO of MultiTech, who will serve as CEO of the combined business. “Their knowledge of key industries will help us better serve our customer set with enabling technologies and complete, ready-to-deploy solutions with a focus on customer experience and usability.”
The new MultiTech will maintain its Mounds View, Minnesota, headquarters and US manufacturing operations, with an additional design and engineering organisation in Toronto, sales offices in Chicago, London, Tokyo and Munich, as well as expanded manufacturing capabilities in North America and south-east Asia.
MultiTech designs, develops and manufactures components, devices and end-to-end products for the industrial and commercial IoT. Offerings include innovations in low power, wireless access and broadband, low-latency communication technologies, machine protocols, integrated sensors, and mobile applications that enable monitoring and management of smart assets, durables and industrial consumables.