Colorado developer of industrial wireless machine-to-machine systems FreeWave Technologies has bought a controlling 51 per cent stake in Waikato-based ModuSense.
FreeWave offers an ecosystem of edge intelligent radios and solutions to optimise the extreme edge of remote industrial operations and create more connected enterprises.
However, to transform geographically dispersed industrial operations, visibility to intelligent data at the edge was required as well as the ability to manipulate it and make it actionable.
That's where ModuSense came in, adding its full-stack of off-the-shelf software-as-a-service (SaaS) systems and more flexible, agile gateway sensing.
“Our combined portfolio delivers a super powerhouse of capabilities to customers who are hungry for integrated solutions designed to make industrial remote operations more efficient, make critical data more intelligent and help save money to make money," ModuSense CEO Bruce Trevarthen said.
ModuSense has been focused on developing its industrial internet of things (IIoT) platform for the last four years.
This included solutions for real-time asset tracking and resource monitoring across the agriculture, water and transportation industries.
The combination of both companies’, which they described as a joint venture, also promised to deliver accelerated global hardware and software IIoT development capabilities.
Founded in 1993, FreeWave brought decades of manufacturing discipline, governance and due-diligence to ModuSense's agile innovation process.
"We make a formidable team in the industrial IoT market and look forward to developing out of the box solutions that will have immediate market impact," Trevarthan said.
FreeWave Technologies CEO Kirk Byles said the joint venture expanded the company's portfolio and accelerated its ability to bring fully integrated, "game-changing" IIoT solutions to market quickly.
“Their entrepreneurial model will ultimately provide us access to a flexible, agile innovation centre allowing us to respond to both customer and market needs faster with both off-the-shelf and fully customised IIoT solutions," he said.
"We are energised by the possibilities and work has already begun on our integrated solution roadmap.”
ModuSense, a Reseller News Innovation Award winner, is perhaps best know for its "internet of bees" IoT platform for the honey industry.
Both FreeWave and ModuSense are private companies and the terms of the transaction were not disclosed.