Signing Letter of Intent to acquire smart metering business

A price of SEK 25 million (Eur 2.4m), paid in cash, subject to a 3-weeks due diligence period before signing a Sales Purchase Agreement at the end of December 2020 has been agreed

The owners of a Swedish smart metering business have today signed a Letter of Intent to sell to Talkpool. The acquisition target measures consumption of water and electricity in approximately 50’000 homes all over Sweden.

The company has during 20 years connected many homes, initially mainly from HSB real estate, to measure consumption real-time instead of sending out field staff that manually reads the meters. By this step-by-step pioneering approach, the business has grown to become Sweden’s third largest metering company with an objective to continue growing to 80’000 digitised homes in Sweden by the end of 2022.

Based on a strategy to up-sell digitisation services such as indoor air quality, alarms and sustainable environmental services to its 50’000 existing homes, the smart metering company has invested heavily in technology during the past years. Talkpool believes it can deploy its existing technology to the clients in an efficient manner.

Approximately half of the Eur 2.5 million revenues are recurring (from the installed base) with high profit margins. The remaining other half of the annual sales stem from unprofitable projects of installing new meters.

For more information, please contact:

Erik Strömstedt, CEO Talkpool
Tel: +41 81 250 2020
erik.stromstedt@talkpool.com 

Talkpool provides IoT solutions and telecommunication network services globally. Through its cutting-edge technical expertise, long experience and agile business model, Talkpool offers global telecom vendors and operators high-quality services on short notice no matter the location. Talkpool offers end-to-end IoT solutions for smart buildings and cities with focus on environmental control, energy saving and damage prevention. For more information, visit www.talkpool.com.