Netmore intends to acquire Talkpool's IoT network

STOCKHOLM, Dec. 2, 2020 /PRNewswire/ -- Netmore and Talkpool sing LOI regarding the acquisition of Talkpool's IoT network and Talkpool will use the consolidated network to roll out its IoT solutions. The acquisition mainly includes network infrastructure in the form of approximately 100 active gateways in strategically important locations in several municipalities and will strengthen Netmore's position as Sweden's leading IoT operator. The transaction is valued at around SEK 7.5 million and will be financed with self-generated funds upon implementation.

On December 2, 2020, Netmore and Talkpool signed a letter of intent stating that Netmore will acquire Talkpool's IoT network based on LoRaWAN technology. The agreement strengthens Netmore's business and customer offering as its network companies are strengthened after the consolidation in important areas such as Stockholm, Gothenburg, Malmö, Uppsala, Linköping, Lund, Eskilstuna and Södertälje. In the acquired network, there are a number of active customers, whose ambition is to connect significantly more sensors in connection with the network's geographical scope growing.

"The agreement is an important step in our journey towards a nationwide IoT network and strengthens both our customer offering and our reach. By taking responsibility for the coverage issue, we extend a hand to Swedish companies that develop IoT solutions and welcome them to use our network as our partners. We have identified the potential in large-scale IoT and know that there are a large number of companies in the Swedish and European markets whose solutions require the simplicity and scalability we offer", says Ove Anebygd, CEO of Netmore.

"At Talkpool, we see a strong demand for our IoT-based solutions for IMD, environmental certification and energy efficiency. The transfer of the network means that we free up internal capacity and can focus on increasing the roll-out pace of our existing services and sensors. It also enables a faster and wider roll-out of new solutions related to moisture, water damage and radon where there is a need for a national network with good coverage. The deal is a win-win for both Netmore and Talkpool, and we see great potential in continued collaboration", comments Stefan Lindgren, [CEO] Talkpool AB

The transaction is valued at around SEK 7.5 million and will be financed with self-generated funds. The transaction is expected to be completed during the current month.

This disclosure contains information that TalkPool AG is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 02-12-2020 16:57 CET.

For more information, please contact:

Erik Strömstedt, CEO Talkpool
Tel: +41 81 250 2020
erik.stromstedt@talkpool.com 

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https://news.cision.com/talkpool-ag/r/netmore-intends-to-acquire-talkpool-s-iot-network,c3248122

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