Nexxiot has announced it will acquire a majority interest in the Swedish technology firm MOST - a provider of real-time cargo monitoring services.
Through its acquisition of MOST, Nexxiot will significantly consolidate its position as an innovator in the cargo IoT space. Nexxiot operates in more than 160 countries and is a leading provider of AI-powered data solutions for supply chain companies.
Nexxiot CEO Stefan Kalmund said: “Bringing MOST’s capabilities into our technology portfolio will have tremendous benefits for Nexxiot’s global customers, affording them unprecedented insights and information about their cargo that will certainly lead to positive outcomes in business planning, decision making and cost savings on a large scale.
“While we are excited about the immediate impacts of this partnership, we are equally thrilled at the long-term implications this deal will have for Nexxiot as one of the world’s dominant players in TradeTech and developers of the supply chain solutions for tomorrow.”
Sam Giertz, co-principal of Resona and chairman of the board of MOST, added: “One of our core philosophies is to identify business models with the potential to transform industries and disrupt markets through the innovative application of data and technology. We view MOST and Nexxiot as an alliance of truly complementary companies that promise to deliver the new standard in big data solutions across cargo shipping sectors. Through our investments, we are advancing TradeTech’s revolution across the supply chain with major sustainability implications for the future.”