Netmore’s network company European Connectivity Networks (ECN), co-owned with infrastructure provider Polar Structure, has acquired Spanish LoRaWan operator Redexia.

The acquisition involves Netmore and ECN taking over customer contracts, existing network infrastructure and Redexia’s commercial and technical organisation. The Spanish IoT market is characterised by large investments in water and gas metering, which is expected to contribute to significant sensor growth in the IoT network in the coming years.

“Through the acquisition of Redexia, we continue our European IoT expansion and gain geographical coverage in another important market,” said Tobias Emanuelsson, CEO of Polar Structure. “The deal demonstrates the good cooperation between Polar Structure and Netmore and consolidates ECN’s position as one of the fastest growing network companies in Europe”

Alex Bryszkowski, CEO of Redexia, added: “Thanks to Netmore and ECN, we will be able to offer LoRaWan in the 20 largest cities in Spain, allowing us to take the next step in deploying large projects with our customers and partners. Furthermore, Netmore’s technical expertise will provide our existing customers with increased support for their projects. This gives us great opportunity to strengthen our leadership in the Spanish LoRaWan market.”

The deal includes LoRaWan infrastructure that will be directly connected to Netmore and ECN’s IoT networks, giving Netmore’s ecosystem of customers and partners immediate access to the growing Spanish market.

The acquisition also includes existing customer contracts and the expected order intake resulting from already initiated customer dialogues by Redexia.

Finally, the acquisition provides technical expertise and commercial momentum as the Redexia organisation joins the company and will continue the development of the Spanish market.

“The acquisition of Redexia demonstrates once again why our well-developed partnership with Polar Structure uniquely positions both Netmore and ECN to operate in the rapidly growing LoRaWan market in Europe,” said Ove Anebygd, CEO of Sweden-based Netmore Group. “Thanks to Redexia’s strong local market presence, we are entering the Spanish market with good commercial prospects that over time will result in more connected devices and increased monthly revenues.”

As a result of the investments being made to digitise gas, water and electricity metering systems, the demand for LoRaWan in Spain is increasing. Netmore and ECN will initially connect Redexia’s existing network to its own network, and then begin deploying LoRaWan in Spain’s 20 largest cities.

This provides better conditions for deploying large-scale, socially beneficial IoT projects across Spain, while growing the addressable market of Netmore and its partners by an estimated 19 million households and several million businesses.

The Spanish government has declared a goal of achieving 13.5 million connected smart meters by 2025, a target supported by several drivers. These include the social and efficiency gains resulting from making the water and gas distribution network smart, and the market impact of European investment funds contributing to the projects. Overall, this creates conditions for significant sensor growth in Netmore’s LoRaWan.

Netmore and ECN have initiated an expansion of LoRaWan in Europe during 2022. They now offer LoRaWan in Sweden, UK, Ireland, Netherlands and Spain. In addition, there are roaming agreements that provide coverage in Finland.

The network expansion, combined with Netmore’s European coverage guarantee and coverage on demand, enables the deployment of nationwide IoT projects within each country. Furthermore, Netmore, ECN and Polar Structure are also opening doors for large-scale societally beneficial IoT spanning several countries in Europe.