Industrifonden and SEB Venture Capital sells its entire holding in Fältcom to Telia Company.
Since the start in Umeå 1998 Fältcom has established itself as a leading innovator in the international IoT arena. Connecting vehicles, machines and buildings globally, Fältcom enables customers to manage and analyze machines, buildings, and systems online.
Fältcom currently has more than 160,000 installed devices, 40,000 of which are online. Its technology is found in everything from elevators, Volvo’s test cars and thousands of buses across Scandinavia, to all Swedish weather stations and speed cameras. The company was selected as one of the 50 most promising IoT solution providers in 2016 by CIO Review.
Industrifonden and SEB Venture Capital made their first investments in Fältcom in 2010 and has now chosen to exit their holdings to Telia Company.
– The collaborative and innovative strategy of the company has paid off, and the company is ideally positioned to leverage the further dynamic growth in the IoT field, says Industrifonden investment manager Per Anell, adding: – We are delighted to have found an acquirer with the spot-on industry expertise to support Fältcom’s further expansion.
Recent Fältcom achievements include delivering a platform to VW Group’s Electronics Research Laboratory for a gas delivery service in Silicon Valley used by luxury connected cars and deliveries to New York City Department of Transportation (NYC DOT) enabling a program to improve the dissemination of traffic information at New York City bus stops.
“Fältcom and Telia Company share a common belief that open platforms and ecosystems are key to unleashing the endless possibilities of IoT. Having achieved a market leading position, we are really excited to join Telia Company. Together we'll strengthen our market position, open up significant growth potential and accelerate the rate at which we can create value for our customers and partners,” says Mikael Långström, CEO of Fältcom.
For more information, please contact
Mikael Långström, CEO, Fält Communications
Tel. +46 70 668 57 48
Fältcom sells and develops systems with reliable and secure communication for services in machine-to-machine communication, M2M, and the IoT (Internet of Things). Fältcom was founded in Umeå in 1998 and currently has over 160,000 installed devices, 40,000 of which consist of the open MIIPS platform. MIIPS is found in everything from Volvo’s test cars to all Swedish weather stations and speed cameras, as well as thousands of buses, and regulates when the lights in cities like Malmö turn off and on every day, among other things. Fältcom is mostly owned by SEB Venture Capital and Industrifonden, and has about 40 employees at the headquarters in Umeå www.faltcom.se
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