Toronto company SmartWave acquires Multi-Tech Systems
Mounds View, MN, November 12, 2020: Designer of Internet of Things (IoT) devices, the Toronto-based SmartWave Technologies, has announced it had acquired Multi-Tech Systems, Inc., a global supplier of Industrial IoT communication devices and services.
SmartWave Technologies, a market-leading provider of industrial IoT end devices and MultiTech will operate as one under the MultiTech brand, said the former in a press release.
The combined entity will drive deployment of proven Industrial IoT first-to-market innovations in low power, wireless access and broadband, low-latency communication technologies, machine protocols, integrated sensors and mobile applications to further scale the deployment of smart assets, durables and industrial consumables. The new MultiTech entity will offer expanded expertise in wireless standards, electromagnetic sensor technologies, component and refill authentication, as well as extended capabilities in industrial design and manufacturing and mobile applications.
“The Internet of Things marketplace extends across industrial and commercial segments, which, though possessing distinct characteristics, also share similar complexities,” said David Steinglass, Partner at Northlane Capital in a written statement. “By combining MultiTech’s strength in wireless technologies from LoRaWAN to Private LTE and soon 5G, with SmartWave’s consultative approach to solution design and commercialization, we expect the new MultiTech business will be well-positioned to provide end-to-end connectivity solutions to a wider range of customers while providing its current customers with the immediate benefit of a newly integrated IoT offering.”
MultiTech designs, develops and manufactures communications equipment for the Industrial IoT – connecting physical assets to business processes to deliver enhanced value.
“MultiTech has a reputation for best-in-class industrial communications equipment and a long history of customer service in critical industries around the world,” according to Jack Vresics, Chief Executive Officer of SmartWave, who will serve as Executive Chairman of the combined entity.
“SmartWave’s extensive short-range wireless experience and knowledge of sensor technology is a natural complement to our portfolio of long-range wireless technologies for both public and private networks,” said Stefan Lindvall, CEO of MultiTech, who will serve as CEO of the combined business. “Their knowledge of key industries will help us better serve our customer set with enabling technologies and complete, ready-to-deploy solutions with a focus on customer experience and usability.”
The new MultiTech will maintain its Mounds View, Minnesota headquarters and US manufacturing operations; with an additional design and engineering organization in Toronto; sales offices in Chicago, London, Tokyo, and Munich; as well as expanded manufacturing capabilities in both North America and Southeast Asia.
