Livingstone’s Business Services team is pleased to announce that Allgon AB, listed on First North, has acquired WSI, Wireless System Integration Sweden, a fast-growing company in the Internet of Things (IoT) for industrial applications. The acquisition creates a new business area for Allgon, Industrial IoT.
WSI provides comprehensive solutions in development, conceptualization, industrialization and production of IoT products, applications and advanced radio solutions. The customer portfolio ranges from small companies in the early product development stage to major international players from many different industries. The company is headquartered in Kista, just outside Stockholm, and has around 20 employees.
Allgon is a Swedish corporate group of niche subsidiaries with operations in wireless communications and the Internet of Things. Allgon has a target to build a corporate group consisting of 10–15 companies with total sales well in excess of SEK 1 billion through both organic expansion and strategic acquisitions.
“I’m very pleased with Livingstone’s work and its contribution to this transaction. Livingstone has excellent ability to find commercially attractive solutions for both parties, which has led to a successful closure of this deal,” says Johan Hårdén, CEO at Allgon.
“We have a long-term collaboration with Allgon to promote its expansion strategy. Livingstone identifies and analyses industries, trends and potential companies to acquire, evaluates these and leads the work on acquisitions. We are seeing generally increased activity in the media and technology sector, and specifically within IoT where we have acted as advisor on a number of transactions this year. WSI is a very interesting company with a strategic position in the middle of Swedish IoT. It will be exciting to see how Allgon and WSI can together accelerate WSI’s development,” says Anders Jacobson, Partner at Livingstone.
“Through this acquisition we are taking the first step in the establishment of a new business area, Industrial IoT. WSI has an exciting business that is a good complement to the offering from other companies within the group. We have followed WSI for some time and are impressed by its successful journey. We now look forward to developing the business further, together with the founders and the team,” says Hårdén.