Develco Products acquires Norwegian company Datek Smart Home to offer industry-leading hardware and software services for the IoT enabled smart home.

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IEG - Investment Banking Group served as the exclusive advisor to Datek Smart Home, a leading provider of IoT software in the Nordics region, in the 100% sale of the company to Develco Products A/S.

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Headquartered in Lillestrøm, Norway Datek Smart Home serves leading insurance, energy, and security companies to best serve their customers‘ IoT needs.

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Danish IoT technology provider Develco Products recently announced the strategic acquisition of Datek SmartHome, one of three divisions of the Norwegian company Datek. After working together on several projects, the transaction forms a natural next step to an even closer collaboration and accelerated growth.

Together, the two companies offer dedicated white label IoT hardware and cloud services for smart energy, home care, and security providers in Europe and North America.

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Datek Smart Home and Develco Products have 60 years of combined experience and technical expertise within the IoT industry. By integrating Datek Smart Home’s expertise, Develco Products strengthens its position in the IoT market, offering seamless, advanced technology for safer and more energy efficient homes.

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As a supplier of both hardware and cloud software, the joint company provides solutions from individual sensor devices and gateways to complete IoT solutions including dedicated support and partnership, making it easy for customers to adopt IoT services.

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The new company's headquarters are located in Aarhus, Denmark. Karsten Ries will be the Group CEO, while Datek Smart Home’s CEO, Sondre Aarrestad, will stay on as Head of the Norwegian solution focused entity.

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Executive Statements

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Karsten Ries, CEO of Develco Products:
"At Develco Products, we arebeyond excited about this new chapter and look forward to working together on aturnkey IoT platform with global reach. Datek Smart Home’s software andexpertise are extremely valuable additions to our product portfolio, enablingus to offer both an IoT hardware platform and complete solutions withinsecurity and energy."

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Sondre Aarrestad, CEO of Datek Smart Home:
"Datek Smart Home is thrilled tojoin Develco Products and continue providing IoT cloud solutions together withour new colleagues in Denmark. We are looking forward to taking our businessworldwide and bringing smart security and energy management services tointernational customers."

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Torstein Harildstad, Managing Director of IEG - Investment Banking Group:
“This is a great, transformative Smart City transaction that enables twoindividually brilliant companies to redefine the European and global marketsfor IoT enabled smarthomes. We are thrilled to have contributed to this process.”

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IEG -Investment Banking Group acted as the exclusive advisor to Datek Smart Home and its shareholders.

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The Partners

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IEG - Investment Banking Group is a leading global technology investment bank focused on M&A, financing, and asset management. With a local presence in key international growth regions and emerging markets, IEG serves as a unique,influential, and entrepreneurial partner for growth companies and large international corporations. Founded in 1999, IEG has successfully completed over 200 transactions with approximately 50 technology investment bankers worldwide. For more information, visit ieg-banking.com.

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Privately held Develco Products is a B2B company providing a market-ready, white label IoT platform to solutionproviders within the fields of insurtech, security, care, and energymanagement.

Develco Products offers a rangeof wireless gateways, sensors and alarms, smart plugs, smart relays, and meterinterfaces.

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Datek Smart Home (DSH) is aSmarthome IoT Platform designed to scale and meet the needs of enterpriseCustomers in the insurance, energy, security and telco segments.

DSH is commercializing itstechnology with leading Enterprise Customers in the Nordics, and across Europe.

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