eSmart Systems, a Norwegian digital and analytics service solutions, sell 34% of the company in a NOK 100M strategic investment deal made by Kongsberg Digital

Norway Investments 12 December 2016
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eSmart Systems, a Norwegian company providing digital and analytics services for the energy sector, announced it received NOK 100 million ($11.6M) from Kongsberg Digital.

The deal involves a 34 per cent ownership purchase as well as a comprehensive partnership involving digital development and services for advanced analytics and machine learning to Norwegian and international customers in the power sector. The partnership positions Kongsberg Digital and eSmart Systems as a leading supplier in the growing market for digital solutions and within renewable energy.

eSmart Systems, founded in 2012 and led by CEO Knut H. H. Johansen, provides a new generation of IT systems to energy market players where the efficient use of the energy market in a smart grid context is central. The company is an innovative driver in the power industry and delivers digital solutions based on Microsoft’s cloud based solution Azure.

In 2015, eSmart Systems had a turnover of NOK 40 million ($4.6M).

Kongsberg Digital is a subsidiary of KONGSBERG, a Norwegian technology corporation that supplies reliable, advanced technological solutions that improve the reliability, safety and efficiency of complex operations and under extreme conditions.

“The power industry faces major changes with extensive digitalisation. The installation of smart meters will provide much more data and the possibility of control and advanced analytics. eSmart Systems has in few years built up a technological platform and a strong position for digitalisation of the power industry. The company has leading expertise within advanced analytics and machine learning, which is a perfect match for Kongsberg Digital’s competence within this field in addition to our industrial experience and global positions. This partnership establishes a strong Norwegian alliance with international ambitions”, says Hege Skryseth, President of Kongsberg Digital.