Allgon AB acquires the IoT-company Wireless System Integration Sweden AB

Allgon AB has signed an agreement to acquire Wireless System Integration Sweden AB, a fast-growing company within IoT (Internet of Things). In connection with this, the Allgon group also creates a new business area for industrial IoT where additional potential acquirements can be added in the future.

Wireless System Integration Sweden AB (WSI) is a design house developing wireless products and systems. The company has in recent years experienced a strong growth and influx of new customers. Before the summer, WSI was chosen as partner for development and manufacturing of products to American Nvidia, one of the largest companies for graphics processors used for artificial intelligence, deep learning and virtual reality.

WSI, based in Kista, Stockholm, currently has 20 employees. In 2015, WSI had a turnover of SEK 32 million with an operating profit of SEK 2,4 million while the turnover of 2016 is estimated to an amount of approximately SEK 45 million with an operating profit of SEK 4,5 million.

Allgon makes the acquisition, which is planned to be completed in the fourth quarter of this year, through buying shares of WSI from the four current owners at a price equivalent to SEK 41 million. The purchase price will be paid partly in cash of SEK 25 million, partly by a promissory note of SEK 11 million as well as a directed share issue of SEK 5 million.

– Through this acquisition, we are putting the first piece of the puzzle in establishing a new business area, Industrial IoT. WSI has an exciting business that complements the offers from other companies within our group. We have followed WSI for some time and are impressed by their success journey. We are looking forward to working with the founders and their team to develop the business further, says Johan Hårdén, CEO of Allgon AB.

– We can see that our major international customers as well as the smaller clients become more and more dependent on collaborations with flexible specialized companies to keep up with the ongoing global digitalization. WSI has a sound knowledge and an extensive experience in offering clients a full responsibility in the process from idea to final product within IoT, Virtual Reality and advanced radio solutions. This agreement with Allgon puts WSI into a larger context in which we can get further exchange on our continuous expansion and growth, says Jan-Åke Lindqvist, CEO of Wireless System Integration Sweden AB.

Heavy tech-names are taking seats in the advisory board of WSI

Tomas Bennich and Magnus Melander are both well known within the Tech- and IoT world. Tomas works globally with connecting and investing in companies. Magnus is the adviser within IoT with years of experience in start-ups and business development. Now they are both taking a seat in the advisory board of WSI to strategically strengthen the company for the future.

WSI is a magic company, according to Tomas Bennich and Magnus Melander. With sketched innovations as starting point, WSI has repeatedly proven the possibility of building advanced technology products and setting up large-scale production. The strength of WSI is further proven by the recently signed agreement with the global graphics giant NVIDIA. The wide range of competence within WSI alongside with its network makes the company unique. Magnus and Tomas will provide the company advice on the way to become the number one choice for global IOT projects.

”To succeed globally, larger traditional companies need the help from several smaller companies. It is impossible to be big and lonely. Especially when it comes to hardware. For me, WSI is a model for how the new industry might look like. My role will be to link WSI with other entrepreneurial companies internationally to reach even greater heights”, explains Magnus Melander.

”WSI has an amazing record in advanced wireless technology and IoT. I believe in the physical presence of WSI in more countries. The company is a cutting-edge supplier with a unique ability. To succeed with the challenges, smart partnerships and collaborations are required and this is where I want to contribute”, says Tomas Bennich who previously contributed to Sweden’s global presence in large trade shows such as CES in Las Vegas and Mobile World Congress in Barcelona. Swedish start-ups have also found a quicker way out in the world thanks to Tomas.

Tomas Bennich and Magnus Melander with their huge worldwide network will help WSI to take an even bigger step within IoT. CEO of WSI, Jan-Åke Lindqvist, is very satisfied with the new forces on the company’s advisory board.

“I know both Magnus and Tomas from the past. Our paths have crossed in the tech-world through the years. Now we are establishing a closer contact to benefit from each other’s experiences more structured and strategically than before,” says Jan Åke Lindqvist.

The Swedish electronic design company WSI (Wireless System Integration) joins the NVIDIA Jetson Partner Ecosystem

WSI, a Sweden-based embedded hardware company, announced today that it has joined the NVIDIA Jetson Embedded Platform ecosystem and becomes the first company in the Nordic region to earn Partner status from NVIDIA, the world leader in GPU-accelerated computing.

The competence of WSI within wireless technology along with the power and performance of NVIDIA’s processors is a formidable combination. NVIDIA Jetson is the world’s leading visual computing open platform for GPU-accelerated parallel processing in the mobile embedded systems market. Its high-performance, low-energy computing for deep learning and computer vision makes Jetson the ideal solution for compute-intensive embedded projects.

WSI has already developed several products, including the mini-computer Solu, which launched this year. WSI also played a major role in the development of the virtual reality 3D headset from GameFace Labs.

“WSI is focused on creating innovations for the future. Our strength builds on global, long-running networking and cutting-edge expertise in wireless technology. It will be our ace up the sleeve when the VR and IoT-boom blooms to its full extent,” said Jan-Åke Lindqvist, CEO of WSI.

“The NVIDIA Jetson platform offers great performance in a small power envelope,” said Serge Palaric, Vice President of Sales for Embedded and OEM in the Europe, Middle East and Africa region at NVIDIA. “We’re excited to see the new products that WSI is bringing to the embedded computing ecosystem.”

Companies are invited to join the NVIDIA Jetson Embedded Platform ecosystem program based on meeting the exact specifications of the Jetson Embedded Platform, including mastering CUDA and reaching NVIDIA’s excellence standards.

For more information, please contact:

Jan-Åke Lindqvist, CEO, WSI
+46 70 555 49 17
info@wsi.nu

About WSI

Wireless System Integration – WSI – supports companies in developing and industrializing their products within Internet of Things and advanced radio.

Since 2002 we have been making things Wireless by WSI™. The WSI team has long experience from delivering complex projects and mobile products. We provide a flexible resource that takes a product from idea to volume production. Our experienced in-house team ensures quality in every step of the way. WSI is a privately held company based in Stockholm, Sweden. Please visit www.wsisweden.com for further information and news.