Matthew BoyleSenet, a US LoRaWAN operator, has been purchased by Netmore Group for an unspecified sum. The agreement allows the Swedish company to increase its open LoRaWAN footprint outside of Europe, where it has built networks in 11 different nations, to North America. Senet is the biggest network operator in the non-cellular people IoT space. A network management platform, a list of businesses managing secret LoRaWAN networks, integration agreements with different terrestrial and satellite networks and an expanding number of IoT tracking and monitoring apps are also included with Senet.
Strengthening Global IoT Connectivity with Senet Acquisition
Along with its headquarters in New Hampshire, the Senet brand ( a Netmore company ) will remain in the US. With the acquisition, Netmore has the largest geographical reach of any LoRaWAN operator on the planet. According to a statement,” The combined entity is the leading platform… for IoT B2B- deployments at scale.” Netmore is today positioned to provide the best-of-breed connectivity services globally, including network infrastructure management, network and device monitoring, maintenance, and radio planning.
Funding for the transaction came from Fisk Ventures, a significant investor in Senet, and Polar Structure, one of the largest shareholders in ( and “main owner” of ) Netmore. Both businesses have been around for about ten years. Earlier in 2021, Netmore purchased Nordic IoT Networks, a LoRaWAN operator, with the intention of concentrating on the infrastructure for the general public. Since then, it has established or acquired common LoRaWAN networks in France, Sweden, the UK, Ireland, and the Netherlands. Additionally, it has operations in Poland, Austria, and Switzerland and Finland as well as roaming agreements.
In a deal that was also made possible by Polar Structure and included the Objenious-branded LoRaWAN infrastructure that Bouygues had already planned to shut down in 2024, the company purchased the open LoReawan network assets of operator BouYgues Telecom in France next year. With the new partnership with Senet, Netmore will have a “large contracted backlog,” including one of the largest international installed bases of water utility AMI networks and contracted bright meters, as well as over one million connected devices under strong management.
According to Ove Anebygd, CEO of Netmore Group,” This acquisition… reflects our commitment to become the world’s leading provider of global carrier-grade IoT connectivity. After our build out of LoRaWAN in Europe… expansion into the US is a pivotal part of our growth strategy and aligned with our commit to the deployment of infrastructure [for ] global business automation and sustainability initiatives.” As we become the driving force behind the next stage of market growth, this acquisition brings together very comparable teams, technology, and operations that position Netmore to create even more value for our customers, employees ,and shareholders.
A fragmented IoT connectivity market is starting to consolidate, according to Bruce Chatterley, CEO of Senet.” This is an opportunity to establish a strong market leadership position… [and ] to engage and execute with technology leaders, solution providers, integrators, and channel partners to drive innovation… and accelerate the adoption of LoRaWAN across markets.” Our dedication to creating cutting-edge products, exceeding customer expectations, and forging solid bonds with customers across the markets we serve remains steadfast.
Investing in IoT Evolution: Polar Structure and Fisk Ventures’ Vision for Netmore’s Growth
As the majority owner and natural transition partner, we are proud of our significant investment in Netmore, according to Tobias Emanuelsson, CEO of Polar Structure. We are committed to creating the top IoT network for essential assets in society through ongoing investments in order to scale up sustainability. A related asset is one that is sustainable. Our long-term ownership structure speeds up the development of contemporary infrastructure, enabling resource efficiency across industries. Being a part of this journey of growth and transformation with Netmore is fulfilling.
We are excited about the expansion of modern transformation driven by the promise of IoT, said Stephen Rose, managing director at Fisk Ventures. The timing of this venture is carefully timed with the second stage of the market’s evolution and opens up new opportunities for customers all over the world in light of recent increases in demand from the energy, utility, and enterprise sectors. We anticipate the combined Senet and Netmore organization’s continued innovation and ecosystem leadership.
