Envera to get acquired by Norvestor.

Envera, an Espoo, Finland-based provider of an IOT used for water efficiency monitoring, announced that it was acquired by the private equity investor Norvestor.

Financial details of the deal were not disclosed. Norvestor will control the majority equity package post transaction.

Envera, founded in 2013 and led by CEO Jussi Niiniaho, is the company behind the Smartvatten solution that provides hardware-enabled SaaS used for real-time monitoring and reporting of water consumption in buildings.

The solution provides water and cost savings to property owners and housing companies and reduces the risk of water damage with immediate alerts of detected leaks. Smartvatten is currently used to monitor more than 7 000 buildings primarily in Finland, Sweden, Norway and the Benelux countries.