Taoglas buys Australian IoT provider Smartsensor Tech, goes on acquisition trail
Irish IoT antenna company Taoglas has acquired Australia-based IoT solution provider Smartsensor Technologies for an undisclosed fee. The company will be integrated into Taoglas’ ‘connected smart services’ business unit which provides managed IoT services. Taoglas has signposted further acquisitions.
Smartsensor Technologies, founded in 2011, bundles hardware, software, and data analytics into smart asset management solutions for the public and private sectors, notably for managing waste, industrial equipment and utility assets. The company is currently managing over 5,000 connected devices in Australia, Canada, and New Zealand.
Leon Hayes, founder and chief executive at Smartsensor Technologies, will lead the connected smart services division at Taoglas. Smartsensor Technologies has a significant growth forecast from contracted deployment in the next 12-24 months, said Taoglas, including in the waste sector with “long term” contracts with blue-chip clients.
Among recent acquisitions, Taoglas bought Dublin-based hardware and software developer Firmwave in mid-2019, to bring new analytics capabilities to its antennas and radio solutions, targeted at healthcare, energy and utilities, supply chain and logistics, transportation, agriculture, and construction. It acquired US competitor ThinkWireless for an undisclosed fee at the start of 2019, to help the Wexford firm expand sales in the commercial vehicle industry.
A press statement quoted a market forecast from IDC, that IoT spending will pass $1 trillion by 2022, growing at a double digit rate. Ronan Quinlan, the firm’s co-founder and joint chief executive, said the market for smart waste solutions, where Smartsensor Technologies has been strong, is expected to grow from $20.2 billion in 2020 to $35.2 billion by 2025.
He commented: “We look forward to welcoming the Smartsensor Technologies team into the fold and to expand our reach globally, with our local IoT solutions and service centres on the ground from San Diego to Dublin and Taipei to Brisbane.”
Dermot O’Shea, co-founder and joint chief executive at Taoglas, said: “This acquisition provides Taoglas with the opportunity to expand our industrial and enterprise-level IoT services. We expect to see an impact from day one. We’re confident the Smartsensor team will bring a wealth of expertise and experience to Taoglas, enabling us to provide further value to our customers.”
Leon Hayes, founder and chief executive at Smartsensor Technologies, said: “Over the past 11 years, we have built a company… that has been instrumental in the leadership and growth of smart waste technologies in Australia. In Taoglas, we know we’ve found the right partner and we know the acquisition will provide an increased level of service offering, support and guidance to our customers.”