HMS Networks acquires a majority of Owasys Advanced Wireless Devices

By Editorial On Sep 22, 2021

HMS Industrial Networks AB, a wholly owned subsidiary of HMS Networks AB (publ), has on July 1st, 2021 acquired 60% of all shares in the Spanish company Owasys Advanced Wireless Devices S.L. Headquartered in Bilbao with 20 employees, Owasys is a wireless communication company designing and manufacturing products for utility vehicles and industrial machines.

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 optimize service schedules.

“Owasys allows HMS to enter the vertical of mobile machines and utility vehicles which is an interesting part of our strategically important ‘Information Centric’ playing field. With Owasys, we strengthen our position for remote access and data solutions beyond our current sweet spot in factory automation.” says Staffan Dahlström, CEO of HMS Networks, and continues “Owasys has an impressive technology and customer base for a company of their size and HMS will provide a good platform for future development”.

“We 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 expansion” 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.

HMS and Owasys representatives in Bilbao. From left: Javier Gurtubay Francia, CEO, Owasys, Damaso Orbe Larrondo, Sales Manager, Owasys, Oscar Cedergren M&A manager, HMS, Joakim Nideborn, CFO, HMS, Miguel López López, R&D Manager, Owasys, Juan Carlos Cabado Ramos, Sourcing Manager, Owasys.

Source: Mepax (International PR and advertising for the industrial market)