Radiocrafts AS will be acquired in full by LumenRadio AB. The transaction is expected to be completed on September 1st, 2023.
“After a very strong organic growth, Radiocrafts wanted to secure its continued growth and market penetration. We could have found no better partner and team to join forces with than LumenRadio”, says Peder Martin Evjen, Managing Director / CEO and Co-founder of Radiocrafts. In this statement he explains how this strategic acquisition strengthen both companies, broaden their combined product portfolios, customer base and market presence.
The merge of the companies, which are complementary in terms of products, solutions and applications; enable huge potential for synergies in technology, supply chain, sales, and market access. Also, it gives Radiocrafts access to a larger and stronger supporting organisation and sales team.
Most important, for our customers this means Radiocrafts is now an even stronger company, supported by a larger organisation. It is “business as usual” in terms of products, technology and markets; making us stronger, faster and more present. “Fast to market with proven quality” is the core offering by Radiocrafts, and this will continue to be our strength and promise. It increases our ability to serve customers with state-of-the art radio modules and wireless technology, and the continuous improvement of our lean production, test and packaging processes.
The Radiocrafts team and management remains and continue as a separate unit in Oslo, making up a third business unit within LumenRadio, in addition to their existing business units; Lighting & Smart Cities, and Buildings & Industrial Control Systems.
“I look forward to welcoming the team of Radiocrafts to LumenRadio and leveraging our collective strength and expertise. I am extremely impressed by the strong position and excellent reputation that Radiocrafts has built within Smart Metering over the last two decades. Together, we complement each other in a way that enables accelerated growth and innovation in existing and new customer segments,” says Alexander Hellström, CEO of LumenRadio.
Radiocrafts has a very strong foothold in the Smart Metering market and is a leading provider of radio modules for smart meters and gateways, and an active contributor to the Wireless M-Bus, OMS, Wize and Mioty standards. This will continue to be the core of our business going forward. Our state-of-the-art sub-1GHz mesh solution (RIIM – Radiocrafts Industrial IP Mesh) is a complement to this, successfully targeting market verticals like Solar Panel and Inverter Control, Street Lighting, Irrigation Control Systems, Emergency Lights and other Building Automation and Industrial Sensor applications.
This also comes at a time where component lead times are shortened, and raw material availability is improving after COVID-19 supply chain turmoil. We can now utilize our lean production processes to supply larger quantities in shorter time, with more flexibility, serving our customers even better.
Radiocrafts has exciting times ahead joining forces with LumenRadio, increasing production volumes and deliveries. We also think this acquisition will help attract new talents to our growing team in Oslo as we are recruiting FW Development Engineers and a Technical Solution Engineer to support our continued growth.
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