Munich Re acquires IoT middleware platform provider Relayr for $300 million

German reinsurer Munich Re, through its subsidiary Hartford Steam Boiler (HSB), has acquired 100% of IoT middleware startup Relayr, at a valuation of $300 million. Relayr, which has partnered with HSB and Munich Re since 2006, will continue to function as an independent entity to maintain its distinct company culture, drive innovation and attract IoT talent. What’s more, the companies noted that Relayr will benefit from the Munich Re/HSB network’s stability and financial strength, with an access to new prospects via the group’s large clientele and financial engineering expertise that will eventually help the company create new solutions. Greg Barats, president and CEO of HSB, and responsible for Munich Re’s IoT strategy, said: “HSB has always focused on insurance and technology. Back in 2016, HSB invested in Relayr in an effort to harness the strategically significant business potential offered by IoT. Relayr’s end-to-end IoT solutions for the industrial and commercial sectors are an ideal addition to our Group’s capabilities.

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In the age of AI, cloud integration, and increasing demands for flexibility, LANs must do more than ever before. Gone are the days when an upgrade every few years was sufficient. Today, it’s about building a network that adapts and scales continuously to meet the demands of hybrid work, security requirements, and business agilit

Spotlight

In the age of AI, cloud integration, and increasing demands for flexibility, LANs must do more than ever before. Gone are the days when an upgrade every few years was sufficient. Today, it’s about building a network that adapts and scales continuously to meet the demands of hybrid work, security requirements, and business agilit

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