Telstra Purple looks to industrial IoT with pair of acquisitions

Telstra Purple looks to industrial IoT with pair of acquisitions-01

Telstra Purple announced on Monday it was set to acquire both Aqura Technologies and Alliance Automation, as it claimed to now be the nation’s “leading IoT provider”.

Parting with AU$30 million for Aqura Technologies, Telstra said the company has over 90 staff in Perth, Brisbane, Adelaide and Melbourne. For its part, current parent of Aqura, Veris, said that the money paid would be used to retire its debt and allow it to focus on being a “digital and spatial data-as-a-service” company.

The fee paid by Telstra Purple represented 98% of the current Veris market cap. Veris said it planned to demerge Aqura in the second half of the year, and received a number of unsolicited offers to purchase the company. The terms of the deal to buy Alliance Automation were not disclosed, however Telstra said the Brisbane-based company has over 250 staff and is focused on IoT industrial automation solutions and control systems.

Read More: https://www.zdnet.com/article/telstra-purple-looks-to-industrial-iot-with-pair-of-acquisitions/

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