Leanheat was acquired by Danfoss.

Leanheat, a Helsinki, Finland-based company specializing in the monitoring, control and optimization of heating in centrally heated buildings by using artificial intelligence (AI) and sensors, announced that it was fully acquired by the Danish strategic investor Danfoss.

The financial details of the deal were not disclosed. The deal was made with majority owner Pandia - in 2016 Danfoss purchased 46% of Leanheat shares. Leanheat will continue operations as an separate business unit headed by its present CEO, Jukka Aho.

Leanheat, founded in 2016 as a spinoff from Pandia and led by CEO Jukka Aho, offers building owners analytics based optimization tools that reduce the cost of heating and enable preventive maintenance of buildings.

The company has piloted its technology in China, Denmark, Norway and Germany and about 10 percent of Leanheat's net sales now come from outside Finland.

By the end of 2018, Leanheat was installed in 100,000 apartments globally and the aim is to get to one million apartments by 2022.