Operator Spark New Zealand entered into a deal to purchase the remaining stake in local environmental IoT provider Adroit it doesn’t own in a move to support business clients’ efforts to improve environmental monitoring.
Mark Beder, Spark’s customer director for enterprise and government, noted in a statement the acquisition reinforces its commitment to investing in companies and technologies to solve problems for businesses which are adapting to rising inflation and the transition to a low-carbon economy.
In March 2022, the operator acquired a near 38 per cent stake in Adroit.
Financial details for acquiring the remaining 62 per cent interest and when the conditional agreement is expected to close weren’t disclosed.
Adroit CEO Blair Stewart stated Spark’s investment enabled the companies to work together to meet customer demand, while allowing it to continue to operate as a specialist player.
The company specialises in real-time environmental monitoring using IoT for the construction, agriculture, aquaculture and infrastructure sectors.
Spark topped 1.5 million IoT connections earlier this month, with its offering monitoring construction sites, natural water sources, forests, business equipment, electricity and water.