Headquartered in Umeå, Sweden, Fältcom has established itself as a leading innovator in the international IoT arena. Globally connecting vehicles, machines and buildings, Fältcom enables customers to manage and analyse critical data from each of their connected assets and smart buildings online. This drives lower costs, higher utilisation and efficiencies and, in many cases, new and improved functionality.
Fältcom currently has more than 160,000 installed devices, 40,000 of which are online. As a market leader, Fältcom’s proprietary technology is found in everything from Volvo’s test cars and thousands of buses across Scandinavia, to all of Sweden’s weather stations and speed cameras. Recent projects include delivering the platform to VW Group’s Electronics Research Laboratory for a gas delivery service in Silicon Valley and a contract with the New York City Department of Transportation (NYC DOT) for a program to improve the dissemination of real-time traffic information to New York City bus stops.
Per Anell of Industrifonden who, together with SEB Venture Capital, were the largest shareholders in Fältcom, said:
“We chose Acuity based on their track record across the IoT sector, coupled with their global market access and network. Acuity’s approach, commitment and insight were key enablers in the sale to Telia Company, focused on supporting and complementing Fältcom’s strategies for further international expansion.”
Richard Baker, Managing Partner at Acuity, commented:
“It has been a real pleasure to work with Andreas, Per, Mikael and the whole Fältcom team on this transformational deal in the IoT sector. We have delivered a deal with the optimal partner in Telia Company, a partner who will continue to support and develop Fältcom’s global growth aspirations. I truly believe that Telia will be a great strategic home for Fältcom, and will give Mikael and the team the platform for continued market leadership.”
Mikael Långström, CEO of Fältcom, said:
“Fältcom and Telia Company share a common belief that open platforms and ecosystems are key to unleashing the endless possibilities of IoT. Having achieved a market leading position, we are really excited to join Telia Company. Together we’ll strengthen our market position, open up significant growth potential and accelerate the rate at which we can create value for our customers and partners.”
Brendan Ives, Head of Telia Company’s emerging businesses unit Division X, said:
“Fältcom is a market leader in Scandinavia and has recently seen early success internationally. The combination of great products and services, and talented and passionate people, will position the combined companies to become the leading provider of Smart Public Transport services whilst laying a foundation for further expansion in the Smart Transport & Logistics and Smart City space.”
Acuity has a market leading track record within the IoT sector: this sale represents Acuity’s 9th European project across IoT in the last 18 months.
Acuity worked on this transaction with Fältcom’s legal team at Vinge, led by Johan Larsson and Johan Mattsson.