Netmore’s network company European Connectivity Networks (ECN), co-owned with the infrastructure company Polar Structure, acquires Spanish LoRaWAN operator Redexia. The acquisition involves Netmore and ECN taking over customer contracts, existing network infrastructure and Redexia’s commercial and technical organisation. The Spanish IoT market is characterised by large investments in water and gas metering, which is expected to contribute to significant sensor growth in the IoT network in the coming years.

“Through the acquisition of Redexia, we continue our European IoT expansion and gain geographical coverage in another important market. The deal demonstrates the good cooperation between Polar Structure and Netmore and consolidates ECN’s position as one of the fastest growing network companies in Europe” says Tobias Emanuelsson, CEO, Polar Structure

“Thanks to Netmore and ECN, we will be able to offer LoRaWAN in the 20 largest cities in Spain, allowing us to take the next step in deploying large projects with our customers and partners. Furthermore, Netmore’s technical expertise will provide our existing customers with increased support for their projects. This gives us great opportunity to strengthen our leadership in the Spanish LoRaWAN market” says Alex Bryszkowski, CEO & Co-founder, Redexia

The deal in brief – synergies and strengthened commercial conditions
The acquisition of LoRaWAN operator Redexia immediately establishes Netmore and ECN in the important Spanish IoT market. The deal includes LoRaWAN infrastructure that will be directly connected to Netmore and ECN’s IoT networks, giving Netmore’s ecosystem of customers and partners immediate access to the growing Spanish market. The deal also includes existing customer contracts and the expected order intake resulting from already initiated customer dialogues by Redexia. Finally, the acquisition provides both technical expertise and commercial momentum as the Redexia organisation joins the company and will continue the successful development of the Spanish market.

“The acquisition of Redexia demonstrates once again why our welldeveloped partnership with Polar Structure uniquely positions both Netmore and ECN to operate in the rapidly growing LoRaWAN market in Europe. Thanks to Redexia’s strong local market presence, we are entering the Spanish market with good commercial prospects that over time will result in more connected devices and increased monthly revenues” says Ove Anebygd, CEO, Netmore Group

LoRaWAN accessible to Spain’s 20 largest cities as Netmore and ECN roll out the network
As a result of the investments being made to digitise gas, water and electricity metering systems, the demand for LoRaWAN in Spain is increasing. Netmore and ECN will initially connect Redexia’s existing network to its own network, and then begin deploying LoRaWAN in Spain’s 20 largest cities. This provides better conditions for deploying large-scale, socially beneficial IoT projects across Spain, while growing the addressable market of Netmore and its partners by an estimated 19 million households and several million businesses.

Major investments in smart metering of water and gas drive the Spanish LoRaWAN market
The Spanish government has declared a goal of achieving 13.5 million connected smart meters by 2025, a target supported by several drivers. These include the social and efficiency gains resulting from making the water and gas distribution network ‘smart’, and the market impact of European investment funds contributing to the projects. Overall, this creates good conditions for significant sensor growth in Netmore’s LoRaWAN network.

Netmore LoRaWAN grows in Europe
Netmore and ECN have initiated a major expansion of LoRaWAN in Europe during 2022. It now offers LoRaWAN in Sweden, the UK, Ireland, the Netherlands and Spain. In addition, there are roaming agreements that also provide coverage in Finland. The network expansion, combined with Netmore’s European ‘coverage guarantee’ and ‘coverage on demand’ enables the deployment of nationwide IoT projects within each country. Furthermore, Netmore, ECN and Polar Structure are also opening doors for large-scale societally beneficial IoT spanning several countries in Europe.

Netmore Group is a leading IoT operator. We connect buildings, offer private and open 5G networks, and enable large-scale IoT through LoRaWAN. Together with property owners, IoT service providers and other partners, we build secure, reliable and open IoT ecosystems that enable digitalisation across sectors and industries in all geographic markets. Netmore Group was founded in 2010 in Sweden and has been listed on Nasdaq First North Growth Market since 2017. Redeye AB is the company’s certified adviser. Certifiedadviser@redeye.se +46 (0)8 121 576 90