Munich Re Acquires Tech Company Relayr
From an initial consultation on the right technology through to overseeing implementation and supporting operations, relayr offers industrial companies seeking to digitalise their business a comprehensive range of services. By way of example, relayr has developed a platform which can be used by companies to connect new and legacy hardware and software to extract and analyse data from physical objects such as machines and equipment. This makes it possible to determine when a machine is likely to fail, for example, and conduct maintenance to ensure that this does not happen. With relayr's IoT solutions, companies can obtain critical business data which can be used to improve processes and thus profitability. Costs can be cut, energy efficiency increased, and product quality improved, to name just a few. Since it began to cooperate with HSB in 2016, relayr's offering has been supplemented by financial and insurance-related components.
While relayr's offering can be applied in many industries, the company currently focuses on small and medium-sized enterprises. relayr sells its solutions directly, in cooperation with consulting partners, and indirectly via technology companies.
Though part of
Jeworrek: "I am really excited to welcome relayr's employees to our Group. With their expertise and passion, they will help us to move forward with our IoT strategy."
The closing of the transaction is subject to regulatory approvals, which are expected to be obtained within the next four to six weeks.
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