DUBLIN – (COMMERCIAL THREAD) –Taoglas®, a key enabler of digital transformation through IoT, announces the acquisition of Smartsensor Technologies, a leading end-to-end IoT provider of intelligent asset management solutions.
Founded in Australia in 2011, Smartsensor Technologies’s mission is to provide cutting-edge IoT solutions that make asset management more efficient. Using a combination of world-class hardware and software, they create real-time, actionable intelligence to reduce the overall costs and complexities associated with managing waste, industrial equipment and utility assets. By helping clients digitize their asset information, through a comprehensive management platform, Smartsensor Technologies ensures clients improve efficiency and has been proven in some client scenarios to reduce the cost of asset tracking to ‘to 80%. Smartsensor Technologies has a solid background in the waste sector and has secured long term contracts with first class customers. The company currently manages more than 5,000 connected devices in Australia, Canada and New Zealand and expects significant growth through contract deployment over the next 12-24 months.
“Today’s announcement really expands the reach of Taoglas’s Connected Smart Services Business Unit. Under Leon’s experienced leadership, this unit will combine our existing offerings into a single platform, incorporating the smart waste solutions that Smartsensor Technologies has been so successful with, selling into a market expected to grow by $ 20.2 billion. in 2020 to $ 35.2 billion by 2025, ”said Ronan Quinlan, CEO and co-founder of Taoglas. “We look forward to welcoming the Smartsensor Technologies team into the fold and expanding our reach globally, with our IoT solutions and local field service centers from San Diego to Dublin and Taipei to Brisbane. . ”
“This acquisition provides Taoglas with the opportunity to expand our industrial and enterprise IoT services and will accelerate our growth plans for smart connected services. We expect to see an impact on this unit from day one, ”said Dermot O’Shea, CEO and co-founder of Taoglas. “We are confident that the Smartsensor team will bring extensive expertise and experience to Taoglas, enabling us to deliver additional value to our customers. The combination of our offerings will help us move quickly to the next phase of Taoglas expansion as the world’s leading provider of IoT solutions.
“Today marks a new chapter for Smartsensor Technologies. Over the past 11 years, we have built a connected business and services offering of which not only can we be proud, but a company that has been instrumental in the leadership and growth of smart waste technologies in Australia. At Taoglas, we know we have found the right partner and we know that the acquisition will provide an increased level of service, support and advice to our customers, ”said Leon Hayes, Founder and CEO of Smartsensor Technologies. “Smartsensor Technologies will benefit from Taoglas’ global presence. They have the teams in place to help us fuel further innovation and realize our full potential. We are delighted to join forces and provide a unique offering of smart connected services to our customers.
The acquisition comes at a time when global IoT spending is growing at a double-digit rate and spending is expected to exceed $ 1,000 billion by 2022, according to global market intelligence firm IDC. Taoglas will continue to capitalize on this significant growth and expand its offering in the IoT market through an aggressive growth plan and further strategic acquisitions.
Smartsensor Technologies will report to Taoglas’ Connected Smart Services business unit, which provides managed IoT services that enable global businesses to optimize the use of their assets and deliver higher return on investment. Under the terms of the new agreement, Leon Hayes will lead Taoglas’s Connected Smart Services business unit as senior vice president and general manager.
Subject to customary closing conditions and the completion of regulatory review, the acquisition was completed on June 30, 2021.
Taoglas has been advised by KPMG, Landers & Rogers and Maples. Smartsensor Technologies has been advised by BDO, Kain Lawyers and PwC.
Notes to editor
Taoglas is one of the main catalysts of digital transformation using IoT, from the definition of the initial strategy to the design, construction, deployment and managed services. Our solutions combine high performance antenna and RF design with advanced positioning, imaging, audio and artificial intelligence technologies for organizations solving critical problems using IoT. An agile and efficient approach that mobilizes quickly makes Taoglas a trusted advisor who helps customers wherever they are in their IoT journey. With world-class design, consulting and engineering expertise, as well as global support and test centers, Taoglas brings complex IoT solutions to market quickly and affordably. Taoglas has proven expertise globally in the areas of transportation, connected health, smart cities and smart building.
About Smartsensor Technologies
Smartsensor Technologies is an end-to-end solution provider for the Internet of Things, combining hardware, software and automation to develop knowledge for the public and private sectors.
Smartsensor Technologies’ unique combination of world-class hardware and software creates real-time actionable intelligence and reduces overall costs and complexity of asset management. From initial purchase, maintenance and lifecycle management to end-of-life disposal, the Smartsensor product line increases efficiency, increases uptime and lowers costs for communities, cities and towns. asset owners.