Latour Industries' Investment in LumenRadio Enables the Next Growth Journey in IoTLatour Industries AB has signed an agreement to acquire 24.7-percent of the shares in LumenRadio AB through a directed share issue and acquisition of existing shares. Other large shareholders in the company are Chalmers Innovation Seed Fund and Almi Invest. LumenRadio develops, manufactures, and sells equipment for wireless radio communication. The products are based on multiple patents, where the basic idea is to enable reliable communication without interference in a world where the available frequency space becomes more and more limited. LumenRadio's technology is based on "cognitive coexistence" where the units scan the frequency spectrum continuously to locate and use free channels. The company has 10 employees and annual revenue of SEK 20 million in 2015. "I am very pleased that Latour Industries will become a partner in LumenRadio. Latour's long-term investment perspective is very important for the future development of the group and we see many exciting possibilities for collaboration with the other companies in Latour's portfolio," says Alexander Hellström, CEO of LumenRadio. "LumenRadio's technology is world leading and well established in the lighting industry, and we are strongly positive regarding the growth potential in other interesting and growing application areas where the need for reliable wireless communication is large", says Björn Lenander, CEO of Latour Industries. "Through this new funding, we can now accelerate our growth journey. This means that we can get our technology into new geographic markets and other industries much quicker than before. We will now build up an extensive international sales and marketing organization. Furthermore, we will increase our investment in research and development, and it is our ambition to become a global leader within reliable wireless connectivity for the most business critical applications," says Hellstrom. 
|
