Alantra extends track record in advising global leaders in IoT location technology with sale of Senion to Verizon
Boston – Alantra, a leading global investment bank and asset management firm, is pleased to announce the sale of Senion to Verizon. Alantra acted as sole financial advisor to Senion on the transaction which was completed in Summer 2021. Senion is based in Linköping, Sweden, and is a global leader in indoor positioning and sensor fusion software with a particular expertise in Bluetooth Low Energy (BLE) wireless technology. The company holds several key patents in indoor navigation technology and is a thought leader in location-responsive mobile Internet of Things (IoT) solutions for Smart Building and Smart Office use cases. The acquisition was led by Verizon’s New Business Incubation unit which focuses on accelerating automation businesses that harness the power of 5G and edge computing technology.
“Senion was created with the vision that one day our sensor fusion technology would allow for precise positioning for anyone and anything, at any time,” said Dr. Christian Lundquist, CEO & Co-Founder of Senion. “By leveraging Verizon’s expertise in connectivity and mapping technology, we can improve workflows for companies and create seamless, location-aware services.”
“This transaction speaks to Alantra’s skill in bringing together cross-border buyers and sellers, as well as our deep understanding of both IoT technology and ‘Smart Industry’ SaaS platforms. We look forward to continuing to advise the global leaders in this fragmented, but increasingly consolidating market,” said John Emery, Managing Director with Alantra.
“Senion adds another high-profile transaction to our track record of advising companies on the bleeding edge of wireless location technology, from BLE like Senion to 5G, UWB, GPS, RFID, and/or WiFi with other past clients,” said Kevin Hawkins, Director with Alantra. “We continue to stay focused on these technologies, as well as the traditional industries where they are being actively applied to drive digital transformation initiatives.”
This transaction reinforces Alantra’s significant expertise in IoT technology after advising on 12 IoT transactions in the past 36 months, including the sale of cellular IoT specialist Nimbelink to Airgain and the sale of IoT digital twin platform Holobuilder to FARO. The Alantra IoT team includes John Emery and Kevin Hawkins, who led the Senion transaction, as well as Dragan Manoev who focuses on a variety of vertical-specific IoT markets. We look forward to continuing to advise high-growth IoT leaders across the globe.