Netmore divests M2M business to telecom and IoT operator Melita
Maltese telecom and IoT operator Melita Ltd (Melita) is acquiring Netmore Group's wholly owned subsidiary Netmore M2M AB (Netmore M2M) for an initial cash purchase price of EUR 1.75 million (approximately SEK 19.6 million), plus a conditional additional cash purchase price of up to a further EUR 2.6 million (approximately SEK 29 million). The parties have entered into an agreement on 26 January 2023 and closing will take place immediately.Netmore Group launched the Netmore M2M business in 2019 as part of its then business strategy to target the fast-growing European market for SIM card