Pressmeddelande -
Vetel forms IoT group through acquisition of Induo
Vetel AB has acquired all shares in Induo AB. The vision of the acquisition is to create a strong IoT group where Induo will be a specialist company focusing on IoT hardware for the B2B market. Vetel currently develops IoT solutions for tracking and sensor technology and caters to both B2C and B2B markets. The acquisition will achieve several synergies in the short and long term. Induo's three co-owners will join Vetel as partners and will remain as employees of Induo.
-IoT and 5G are here and growing fast. The volume of data in the networks is predicted to increase by about 30-40% annually until 2026. In addition, we have the major replacement program from 2G, 3G to 5G already started. Together we will be a very exciting IoT group with a large enterprise and consumer customer base and a growing share of service revenues. This is the start of a very exciting journey in IoT, says Kristoffer Lind, Chairman of Vetel AB.
-We are convinced that this is the right step for Induo. We have great expertise and the best product range and a large and growing customer base and we look forward to now developing together and leveraging each other's strengths in a strong growing market, says Björn Moberg, founder Induo AB.
-This is a win-win for both parties and further strengthens our competitiveness for the future, says Mikael Flodström, Sales Manager Induo.
-The IoT market will grow strongly in the coming years in both B2B and B2C and the acquisition will give us the opportunity to further scale up the business, says Ulf Seijmer, Chief Innovation Officer Induo.
About Vetel AB
Vetel was founded back in 2007 and has strong brands such as Yachtsafe, redKnows and Everysafe in its portfolio. Vetel is an electronics and software company located at Lindholmen in Gothenburg, Sweden. The business consists of development of proprietary products. The company's core competencies are in mobile data communications and GPS positioning technology.
Contact person Vetel: Kristoffer Lind -kristoffer.lind@vetel.se
About Induo AB
Induo AB has a strong position in hardware distribution since 2008. Induo's hardware is used to bridge distances and connect machines with other machines and machines with people. Through a long-term approach, Induo's solutions will contribute to a more sustainable society with fewer trips and a smaller climate footprint.
Contact person Induo: Björn Moberg -bjorn@induo.com
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Företagsfakta Induo AB
Induo vilar på fundamentet av närmare 100 års arbetserfarenhet av kommunikation. Induo, som fritt översatt betyder engagerad, är ett svenskt bolag som erbjuder produkter och tjänster för kommunikation med affärsidén ”Pålitliga kommunikationslösningar i tiden”.
Induo är generalagent för Advantech B+B Smartworx, Cerio, CompleTech, ELA Innovation, Eldes, Encore Networks, Jay Electronique, Lantech, Lantronix, Radwin, Satel, Schmidt Electronics och Teltonika.
