Taoglas, an IoT solutions provider for digital transformation announced that it has acquired Australian firm Smartsensor Technologies to expand its offering in the IoT market. Smartsensor Technologies is an end-to-end IoT provider of smart asset management products and is currently managing over 5,000 connected devices for global enterprises.
“This acquisition provides Taoglas with the opportunity to expand our industrial and enterprise-level IoT services and will accelerate our plans for the growth of connected smart services. We expect to see an impact on this unit from day one,” said Dermot O’Shea, CEO and co-founder of Taoglas. “Combining our offerings will help us move quickly towards Taoglas’s next phase of expansion – as the leading global IoT solutions provider,” he added.
The company said the acquisition had come in time when worldwide IoT spending is growing at a double digit rate. Taoglas said it will continue to capitalise on this significant growth and expand through aggressive growth plan involving further acquisitions.
The company said Smartsensor Technologies will fall under Taoglas’ Connected Smart Services Business Unit which provides IoT services that allow enterprises to drive optimised use of their assets and deliver a higher return on investment. Under the terms of the new agreement, Leon Hayes will lead the Taoglas Connected Smart Services Business Unit.