Yahoo Finance HMS Networks AB enters into a strategic partnership with Connectitude
HMS Industrial Networks AB, a wholly owned subsidiary of HMS Networks AB (publ), has on December 8th entered into a strategic partnership with Connectitude and acquired a minority position in their holding company.
Connectitude offers a Software as a Service (SaaS) for industrial digitalization, that allows both Machine Builders and Factory Owners to co-operate and share valuable data insights from their production processes, in real-time. The Connectitude vision is a Smart Production Ecosystem that realizes true sustainability within the manufacturing industry.
“With Connectitude we will have a perfect bundling with our Remote Data offering within our Ewon brand. The combination of the offers strengthens HMS’ value proposition for our cloud offer, Talk2M, and will be an enabler for more SaaS-revenues”, says Staffan Dahlström, CEO of HMS Networks AB.
“We are very excited to enter into this partnership with HMS, both when it comes to combining our offers and utilizing the potential, but also being able to access a wider international customer base through HMS’ channels”, says Richard Houltz, CEO of Connectitude.
HMS Industrial Networks AB invests 15 MSEK, in newly issued shares, in the Cenito AB Group to provide growth capital to the Connectitude business. Besides Connectitude, Cenito AB Group also includes a business with professional services. Total turnover of the Cenito AB Group is estimated to be 23 MSEK during 2021.
The investment is not expected to have any impact on the Group's EPS in the coming years.
For more information, please contact:
Staffan Dahlström, CEO HMS Networks AB, +46 (0)35 17 29 01
Joakim Nideborn, CFO HMS Networks AB, +46 (0)35 710 6983
HMS Networks AB (publ) is a market-leading provider of solutions in industrial information and communication technology (Industrial ICT). HMS develops and manufactures products under the Anybus®, Ixxat®, Ewon® and Intesis® brands. Development takes place at the headquarter in Halmstad and also in Ravensburg, Nivelles, Bilbao, Igualada, Wetzlar, Buchen and Delft. Local sales and support are handled by branch offices in Germany, USA, Japan, China, Singapore, Italy, France, Spain, the Netherlands, India, UK, Sweden, South Korea and UAE, as well as through a worldwide network of distributors and partners. HMS employs over 700 people and reported sales of SEK 1,467 million in 2020. HMS is listed on the NASDAQ OMX in Stockholm, category Mid Cap, Information Technology.
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