Maritech acquires 100 % of IoT company Lillebakk
Maritech continues to expand and makes another strategic acquisition.
Maritech today announces acquiring all shares of the Norwegian IoT company Lillebakk AS. The two companies have been cooperating closely since 2017, when Maritech became majority shareholder in Lillebakk. Since then, they have been cooperating in several projects related to IoT, automation and analytics. Now they will be fully integrated and localized together in Molde, Norway.
Automation and industrial IoT
Lillebakk was established in 2013 and is a fast-growing company focused on automation and Industrial IoT. In 2019 10 employees delivered a revenue of 25,5 MNOK, mainly derived from IoT and the cloud-based solution LINSiGHT. LINSiGHT is tailored for seafood, energy, industry and public sector, and will be developed further for the different segments. Including Lillebakk, Maritech has approximately 100 employees and an annual revenue exceeding 100 MNOK (2019).
“The acquisition is well aligned with our growth strategy,” says Maritech’s CEO Janne T. Morstøl. “We have a strategy to expand in the value chain, and automation and Internet of Things are key competencies to drive quality, productivity and data-based daily operational decisions. Lillebakk’s products and knowledge will allow Maritech to offer solutions for smarter production to seafood customers in Norway and internationally.”
“I am convinced that this is a good solution for Lillebakk,” says Andre Lillebakk, CTO and co-founder of Lillebakk. “For us, our great employees and for Maritech. The recent years has been an adventure. We were two brothers who started a company from our home offices. And here we are today, after quite a journey. As an entrepreneur, it is obviously emotional to hand over your company to someone else. However, as we have experienced some rough months lately, we have considered several options for the future. After a thorough process, we have concluded that integrating with Maritech is clearly the best option.
Becoming a part of Maritech will ensure both speed, competence and stability for our team, our customers and our suppliers.Andre Lillebakk, CTO and co-founder of Lillebakk AS
“We are pleased to welcome our new colleagues to Maritech,” says Odd Arne Kristengård, COO of Maritech and acting CEO of Lillebakk. “The Lillebakk team has extensive knowledge and experience in automation and IoT. Jointly, we will have a strong team in data analytics with predictions and prescriptions with machine learning as next step. This acquisition will also strengthen our development team and expertise related to cloud-based technology. Currently, we are preparing our first product joint launch, which will be a milestone in a few months´ time. We are looking forward to working even closer together, creating better and more efficient solutions for our customers.”
Photo: Odd Arne Kristengård, COO Maritech and Andre Lillebakk, CTO and co-founder Lillebakk