HMS Networks AB (publ) acquires a majority of Owasys Advanced Wireless Devices S.L.
Owasys offers wireless embedded communication platforms to enable remote monitoring and control of a wide range of mobile machines. The portfolio includes key products like owa4x which is an IoT gateway for processing and transmission of data from wired and wireless sensors, devices and peripherals to the cloud, and owa450 which is an IoT platform for controlling and monitoring of data from vehicles and industrial machines at the Edge.
A selection of value created by Owasys' solutions include reduced fleet downtime and data-driven maintenance to optimise service schedules.
â€œOwasys allows HMS to enter the vertical of mobile machines and utility vehicles which is an interesting part of our strategically important â€˜Information Centric' playing field. With Owasys, we strengthen our position for remote access and data solutions beyond our current sweet spot in factory automation.â€'Â says Staffan DahlstrÃ¶m, CEO of HMS Networks, and continuesÂ â€œOwasys has an impressive technology and customer base for a company of their size and HMS will provide a good platform for future developmentâ€'.
â€œWe are very excited to be able to continue to develop our market together with HMS. We see good opportunities for technology collaborations and HMS' international presence will be of great use for Owasys in our continued expansionâ€'Â says Javier Gurtubay, CEO of Owasys.
The 60% share in Owasys was acquired by HMS from the existing management team who remains in ownership of 40% of the shares and will continue to manage the business. Owasys is expected to have Net Sales of EUR 5.5 million and EBIT of 1.4 million in 2021.
The acquisition will have a limited impact on HMS' earnings per share going forward.