TagMaster acquires the French IoT specialist Hikob
Press release, Sweden, Stockholm, August 31, 2018
TagMaster, the leading supplier of advanced sensor systems for Smart Cities within traffic and rail solutions has acquired all the assets related to the sensor products from Hikob SA.
Hikob SA was established in 2011 and is one of the leading IoT/sensor companies in France with a strong foothold within parking, traffic and weather sensors. One strong application area is for electrical vehicle charging stations where they cooperate with the larger French system integrators within EV charging. Hikob is one of the pioneers within IoT in France and has regularly been on the list of the 100 most interesting industrial IoT companies (IoTone).
TagMaster will acquire all the assets related to Hikob sensor products, gateway systems, the data collection platform and the related R&D team, all based in Grenoble (France). TagMaster has created a new company in France which will take on the name Hikob and where all the assets will be deployed. The HIKOB technology engineering services business unit will remain autonomous and continue its development under the form a new company entitled Sequanta.
The consideration will be funded from the existing bank facilities and the acquisition is expected to be earnings enhancing to TagMaster in the first full financial year following the transaction. It is also a strategically important strengthening of the TagMaster Group in an area we believe will be very important within a few years.
”TagMaster is excited about this important step in our growth strategy and we will together with the Hikob team become a stronger player in the Parking & Traffic solutions market and continue to establish ourselves as an important player in Smart City solutions. There are clear and immediate synergies between Hikob and CA Traffic and Magsys. With the combined expertise we believe we have an excellent opportunity to become one of the main players in the fast growing ITS market in France, UK and Nordic (our home markets). ” says Jonas Svensson, CEO, TagMaster
For more information, please contact;
Jonas Svensson, CEO
This information is information that TagMaster AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8.30 CET on August 31, 2018.
TagMaster is an application driven technology company that designs and markets advanced sensor systems and solutions based on radio & vision technology (RFID, Radar & ANPR) for demanding environments. Business areas include Traffic Solutions and Rail Solutions sold under the brands TagMaster, CitySync, Balogh, CA Traffic and Magsys with innovative mobility solutions in order to increase efficiency, security, convenience and to decrease environmental impact within Smart Cities. TagMaster has dedicated agencies in the US and in China and exports mainly to Europe, The Middle East, Asia and North America via a global network of partners and, systems integrators. TagMaster was founded in 1994 and has its headquarters in Stockholm. TagMaster is a public company and its shares are traded on First North stock exchange in Stockholm, Sweden. TagMasters certified advisor is Erik Penser Bank. www.tagmaster.com