In a significant shift in the global Internet of Things (IoT) landscape, Europe’s Netmore has acquired US-based Senet, a leading LoRaWAN operator and cloud-based network management platform. This merger strengthens Netmore’s foothold in the IoT markets, positioning it to provide comprehensive connectivity services, infrastructure management, and customer support on a global scale.
Netmore and Senet: A Powerful IoT Alliance
Senet, with nearly a decade of experience in LoRaWAN technology development, offers a range of network services, including integrations with terrestrial and satellite networks. Its acquisition by Netmore expands the latter’s carrier-grade network to the US, supplementing its strong presence in European and global IoT markets. The merger of these highly complementary teams, technology, and operations drives Netmore closer to its mission of becoming the world’s leading IoT connectivity provider.
Expanding IoT Connectivity and Infrastructure
With the addition of Senet, Netmore now oversees over a million connected devices and has a significant backorder of contracted smart meters and Advanced Metering Infrastructure (AMI) networks for water utilities. Netmore’s ‘Accomplish More with Less’ mission aims to create the largest global LoRaWAN/IoT ecosystem, focusing on sustainable business practices, energy efficiency, and conservation to support net zero CO2 emission goals. IoT connectivity is seen as a pivotal enabler for reducing water loss in utilities and achieving cost and energy savings in buildings.
Investor Support Fuelling Growth
Netmore’s growth trajectory is bolstered by backing from Polar Structure AB and Fisk Ventures, purpose-driven investors focused on long-term growth in the IoT sector. Their support for this acquisition underscores the potential they see in digital transformation driven by IoT. Senet will continue to operate under its name from its headquarters in Portsmouth, New Hampshire, contributing to the growth of Netmore Group.
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