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KALROCK announces a successful closing of the relayr acquisition by Munich RE subsidiary HSB Group
relayr provides IoT middleware, customized software and consulting to support the digital transformation of industrial and mid-sized commercial companies across the globe. The combination of relayr's customized IoT business outcome solutions backed by the financial assurance of Munich Re and HSB will further fuel relayr's growth.
HSB acquired 100 percent of relayr's shares and equity interests for $251.7 million in cash after accounting for the 15.51 percent of HSB's previous minority interest in the company, valuing the total transaction at around $300 million. The investment was funded through a capital contribution from Munich Re.
Florian Fritsch, Chairman of KALROCK, said: "We are incredibly proud of the whole team at relayr and seeing their progress since the early days is extremely impressive."
Igor Starha, Partner at KALROCK added: "Bringing a strong and trusted partner onboard through this transaction is an important milestone for relayr on their journey towards building a global category leader in the IoT space and really shows the maturity of the business."
KALROCK is a global firm operating in financial advisory and alternative asset management, managing significant partners' assets across a number of diversified strategies. Although making occasional appearances in public markets, the firm is mainly active in the following three private verticals: Real Estate, Venture Capital and Advisory.
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