STOCKHOLM, Feb. 8, 2019 /PRNewswire/ -- The Board of Directors of the Nasdaq First North-listed H&D Wireless AB, has decided to actively increase the sales efforts of its own products in Sweden by implementing an acquisition strategy. This aims to ensure increased resources for the marketing, sales, distribution and support of their own products to end customers.
H&D Wireless intends to acquire companies active in the sale and installation of IT and automation solutions in the manufacturing and construction industry. Advisors have been engaged in order to find suitable acquisition candidates according to H&D Wireless criteria. The goal is to complete a first acquisition during the spring of 2019.
H&D Wireless has since the company started, developed products that digitize, visualize and increase the efficiency of the industry based on radio communication. So far, it is mainly network and cloud connections that have been requested, but the possibility to provide complete system solutions for real-time information of business processes in the form of cloud services, is calculated by everyone in the industry to soon receive a significantly larger part of the market with a higher value for the customer and shorter installation time.
In a first step, H&D Wireless will focus on the Swedish market but plans for other markets in the future where the company follows its customers when rolling out the services in factories worldwide. H&D Wireless could gradually increase its sales organically, but in the current market situation with strong growth for cloud services and investments within Industry 4.0 and Smart Factories, we believe that acquisitions can provide the opportunity for more parallel projects and increased value for H&D Wireless and its shareholders.
CEO Pär Bergsten in a comment:
- So far, we have been a pure radio communications provider in the Swedish IoT market. In order to speed up the shift to future cloud services, we now choose to acquire companies with a business where our products receive a direct channel and support to the market. It can be both installers, resellers, and IT companies. We look forward to adding expertise, driven entrepreneurs and sales channels for increased growth and enabling the vision of becoming the market leader in RTLS in the Nordic region.
This information is such information that H&D Wireless AB is required to publish under the EU market abuse regulation. The information was provided by below contact person, for publication 08:15 CET February 8, 2019.
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About H&D Wireless:
H&D Wireless is a Swedish provider of Internet and Things technology and services (IoT) and Real-time positioning (RTLS + GPS) with Griffin cloud platforms and GEPS. H & D Wireless was founded in 2009 with over 1 million wireless products delivered so far for IoT and M2M solutions worldwide. The company develops and delivers solutions that digitize and visualize physical processes, identifying, among other things, the handling of materials, tools and machines with its proprietary GEPS™ (Griffin Enterprise Positioning Service) solution. H&D Wireless shares are listed on Nasdaq First North in Stockholm since December 2017 with FNCA Sweden AB, +46(0)8-528-00-399 firstname.lastname@example.org, as Certified Advisor. www.fnca.se FNCA +46(0)8-528-00-399 email@example.com
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SOURCE H&D Wireless AB