Nexxiot announces acquisition of Swedish tech firm MOST
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Zurich-based Nexxiot, which provides integrated solutions for tracking and tracing cargo around the world using IoT and cloud technologies, has announced it will acquire a majority interest in the Swedish technology firm MOST, a provider of real-time cargo monitoring services. It has also been announced that Swedish family office Resona, one of Scandinavia’s foremost technology investors, will become minority shareholder in the transaction.
Nexxiot believes the acquisition of MOST will “significantly consolidate its position as the foremost TradeTech innovator in the cargo IoT space.”
Commenting on the transaction, Nexxiot CEO Stefan Kalmund said he was “thrilled” by the long term implications of the deal:
“Bringing MOST’s capabilities into our technology portfolio will have tremendous benefits for Nexxiot’s global customers, affording them unprecedented insights and information about their cargo that will certainly lead to positive outcomes in business planning, decision making and cost savings on a large scale. While we are excited about the immediate impacts of this partnership, we are equally thrilled at the long-term implications this deal will have for Nexxiot as one of the world’s dominant players in TradeTech and developers of the supply chain solutions for tomorrow.”
Meanwhile, Matilda Bouchet, MOST CEO, said:
“We could not be more delighted at this outcome and are confident that the strong set of people skills and financing will take MOST to the next level in bringing data-driven insights to our customers.”
In addition to the above, Danish IoT company GlobeTracker has announced it will divest its shares of MOST in the transaction.
Nexxiot says that the alliance will combine the company’s onboard solar-powered cargo sensors and gateways, which track cargo movements and efficiencies through the company’s dedicated logistics cloud, together with MOST’s sensors that monitor the humidity, temperature, light and security of cargo inside of freight containers.
As a result, Nexxiot believes it will now be able to offer customers complete transparency and accountability as to the status and performance of their cargo shipments across the globe.