TeliaSonera has broadened its IoT/M2M portfolio after landing a stake in a Swedish IoT company specialising in “smart” human interfaces and sensor analytics.
Springworks builds mobile apps and web user interfaces for IoT applications and has also developed a cloud-based analytics platform for processing data from connected sensors.
TeliaSonera revealed it had acquired a 30 percent share of the firm, which it will incorporate into its Global M2M Services division.
The news comes after Nordic rival Tele2 launched its own IoT portal last week.
Unit Head Hans Dahlberg claimed that by connecting Springworks to its network, TeliaSonera would be able to develop new enterprise IoT solutions for “just about any industry.”
Hélène Barnekow, Chief Commercial Officer at TeliaSonera, said: “The investment in Springworks is a good example of another achievement on our journey to a new generation telco.
“The IoT is a growth area for TeliaSonera. By adding Springworks’ capabilities to our own we are strengthening our M2M-portfolio and the ability to help our customers leverage the Internet of Things to drive further business value from connectivity.”
According to TeliaSonera, the IoT market in Nordic Europe is expected to grow 23 percent annually in the next three years, reaching €9.1 billion in 2018.
Springworks CEO Erik Ramberg said: “At Springworks, our main goal is to develop intelligent IoT solutions that offer a great user experience. With TeliaSonera in our corner we can do that by leveraging their global m2m resources, including their skill set, M2M platform and networks.
“The funds generated by the investment will enable us to continue developing and enhancing our services.”