Press release -
Newly merged IWMAC and Egain acquire Moldeo, the company behind Web Port.
10 May 2021: The new group continues the expansion with the acquisition of the Swedish company Moldeo. “Moldeo is a fantastic company built on the idea that proptech should be flexible, innovative and open. This is something that aligns very well with our ambition creating Europes leading proptech platform.”, comments Trond-Øystein Bjørnnes, group CEO.
Following the announcement a month ago on the acquisition of Norwegian energy management company Cebyc, the newly formed group today announced the acquisition of the Swedish company Moldeo. This is one more step in pursuing the goal of becoming the leading building connectivity platform in Europe. The group has a vision of fighting climate change by enabling better monitoring, control and optimization of buildings across the retail, industrial, commercial and residential sectors.
Since the start in 2009, Moldeo has developed the flexible, scalable and open HMI-/SCADA-system Web Port. “The combination of our market knowledge with the new group's ambitious plan will offer great opportunities and even better solutions for all our customers. I am proud of what we have achieved since we launched Web Port, and we are eager to continue delivering an open and even more flexible solution to the market.”, comments Joakim Nilén, CEO Moldeo.
Buildings account for 40% of Europe’s carbon emissions – mainly arising from heating and cooling – and 75% of all buildings are energy-inefficient. With forecasts indicating that as much as 95% of today’s building mass will still be in use in 50 years’ time, optimizing the energy consumption of this sector will play a key role in achieving the EU’s target to reduce greenhouse gas emissions by 55% by 2030. For the new group, this challenge represents an enormous opportunity.
“We are building a platform that enables companies to work more freely with the technology of choice. Solution providers are already creating integrations between each other and instead of locking customers to just one solution, we want to be open for cooperations within and across sectors. Web Port fits very well with our product strategy”, says Jon Åkerström, Group CPO.
About the group
The new company is a leading SaaS company with the vision to make a big impact in the fight against climate change by offering the smartest and most cost-efficient proptech platform on the market. Around 33,000 commercial, industrial, residential and public buildings and 3,000 grocery stores in Northern Europe are already daily users of either an IWMAC, Egain, Cebyc or Moldeo solution for various energy control levels, efficiency and reporting. In 2020 the combined turnover of the four companies exceeded € 19 million. After the acquisition of Moldeo, the company will have offices in seven countries with a total of 135 employees. Through innovative connectivity that monitors, controls and optimizes both the use of energy and organisations, Europe’s existing building mass is now set to become part of the solution for the future.
Moldeo is an innovative provider of software for visualizing control systems, mainly focused around Building Automation. Their flagship product, Web Port, scales from HMI to SCADA with a broad set of features that balances ease-of-use and flexibility. Through their partner network, covering most of Sweden, 4000 installations have been delivered. A Web Port solution ranges from a single system to thousands of connected controllers. Web Port offers openness both when it comes to supported control systems and access to data. Moldeo was founded in 2009 and Web Port is celebrating 10 years as a product.
Egain is a leading technology SaaS company within digital control and energy optimization of residential and government buildings. The company develops IoT solutions, mobile apps, and AI-based software that visualizes building opportunities and optimizes the energy consumption leading to lower energy consumption, improved buildings’ environmental footprint, optimized living comfort and, increased property valuations. Egain was founded in 2003 with HQ in Kungsbacka, Sweden, and is today owned by Summa Equity. With offices in five European countries, Egain is currently serving more than 5,000 buildings and 300,000 apartments in 11 countries.