Delphi advisor to Netmore Group AB in connection with the divestment of Netmore M2M AB
Delphi has advised Netmore Group AB (”Netmore”) in connection with the divestment of all shares in its subsidiary Netmore M2M AB (“M2M”), to the Maltese telecom and IoT operator Melita Ltd (“Melita”), a portfolio company to EQT.
Netmore launched the M2M business in 2019 and the subsidiary has grown steadily since its formation, and has today over 300 customers in over 30 countries. The sale of M2M is another step in Netmore’s strategic focus on its fastest growing business area, IoT/LoRaWAN.
Netmore is a leading IoT operator, founded in 2010 and is listed on Nasdaq First North Growth Market since 2017. Together with property owners, IoT service providers and other partners, Netmore is building secure, reliable and open IoT ecosystems that enable digitalisation across sectors and industries in all geographic markets.