Centennial Peaks Capital Advises Radio Bridge on its Sale to MultiTech Systems
Combination to simplify and improve customer experience when deploying sensor-to-cloud solutions.
PRESS STATEMENT 8 JUNE 2021
MOUNDS VIEW, Minn. -- Multi-Tech Systems, Inc., a leading global supplier of Internet of Things (IoT) devices, services, and solutions, today announced the acquisition of Radio Bridge, a Minnesota-based designer and manufacturer of long-range wireless sensors for the Internet of Things (IoT) industry using the LoRaWAN® wireless standard.
Thanks to the combination of Radio Bridge sensors with the industry-leading portfolio of MultiTech IoT and LoRaWAN gateways, OEMs, system integrators and solution providers will have a simplified path to develop and deploy new connected solutions.
Together, they will offer seamless integration based on an open architecture, and a cloud-based management console for provisioning, monitoring, and configuration of sensors and gateways – shortening time to market, simplifying device management, and lowering total cost of ownership throughout the life cycle of customer solutions.
“We are excited to add the Radio Bridge LoRaWAN sensor products to our portfolio and welcome the Radio Bridge team to MultiTech. Radio Bridge has an excellent reputation for rapid innovation and customer support. Together we can further simplify and improve our customers’ experience,” said Stefan Lindvall, CEO of MultiTech. “As a single supplier we can bring more pieces together eliminating complexity for our customers, while accelerating future development to bring new innovation to market.”
“MultiTech is a longstanding leader in LoRaWAN infrastructure, and due to the rugged reliability, intelligence and extensibility of their gateway portfolio, MultiTech has always been our first choice for LoRaWAN connectivity,” said Steve Kilts, CEO of Radio Bridge. “We are very pleased to join the MultiTech team to jointly offer the world’s most comprehensive LoRaWAN-based sensor to cloud portfolio of products.”
As a result of the acquisition, MultiTech is now able to provide everything from sensors, to embedded communications devices, modems and gateways, cloud connectivity and device management services – as well as custom design and application development.
“Radio Bridge is a natural fit in our strategy to deliver end-to-end solutions that make work and life better,” said Jack Vresics, Chairman of MultiTech. “This acquisition is a strategic consolidation of smart products and services. The opportunity to expand our offerings to existing customers and bring on new adopters of IoT technology is tremendous and keeps growing as we reduce deployment friction by bringing on additional elements to our product and service portfolio.”
Centennial Peaks Capital, a Denver-based boutique investment banking firm, served as the exclusive financial advisor for Radio Bridge on this transaction. "Centennial Peaks Capital far exceeded our expectations in terms of service, expertise, and execution. They provided guidance every step of the way and never took their eyes off the ball. Ultimately, Centennial Peaks Capital helped us achieve our desired outcome with the ideal company in our industry, MultiTech Systems. Things have been very successful post-acquisition, and much of this was due to the careful due diligence of our advisors," said Steve Kilts.
MultiTech makes work and life better by leveraging sensor and connectivity technology to bring systems and processes into the future and drive new revenue streams and efficiencies. Our extensive portfolio of technologies, paired with design, integration, and manufacturing expertise, result in unparalleled performance, simplicity, and user experience. We have a passion for service that drives us to meet and exceed expectations with outstanding service and support throughout the lifecycle of your solution. We never stop looking for novel ways to solve problems with technology, which is how we continue to deliver industry firsts for us and for our customers.