The experts in mergers and acquisitions in the technology sector at Baker Tilly have advised ArsonData Metering S.L., a Spanish specialist with cutting-edge technology in smart water and gas management solutions, on its acquisition by Netmore Group AB, a European IoT connectivity provider.
This transaction marks a significant milestone in the digitization of water and gas services across Europe, reinforcing Netmore's position as a leading provider of large-scale IoT networks and smart telemetry services. The integration strengthens Netmore's offering for utilities seeking advanced remote meter reading, data analytics, and leak detection solutions.
Target: ArsonData Metering
Founded in 1998 and headquartered in Bilbao (Basque Country), Arson Metering develops comprehensive remote reading systems —including proprietary hardware and software, as well as a scalable data platform— that enable utilities to monitor consumption in near real time, reduce losses, and optimize network efficiency. With a team of highly specialized engineers and established projects in Spain and Latin America, Arson Metering has earned a solid reputation for technological innovation and operational reliability. The current management team will remain in place to drive growth within the Netmore organization.
With a 25-year track record, ArsonData has built long-term relationships with municipal water companies and gas distributors, offering tailor-made solutions that integrate seamlessly into existing infrastructures. Its R&D culture ensures continuous improvements in sensor accuracy, cybersecurity, and predictive analytics, positioning the company as a benchmark in the European smart utilities sector.
Investor: Netmore Group AB
Netmore Group AB, listed on the Nasdaq First North Growth Market (Sweden), operates extensive LoRaWAN® networks across Europe to enable IoT connectivity in smart cities, utilities, and industrial applications. With the acquisition of Arson Metering, Netmore expands its smart metering capabilities and strengthens its service offering for municipal and private water and gas companies, addressing the growing demand for energy efficiency and resource management solutions in Europe.
Netmore's strategy focuses on accelerating the adoption of IoT-enabled services through investment in specialized technology providers like ArsonData. With active operations in more than ten European countries and a growing ecosystem of utilities sector partners, Netmore aims to scale sustainable infrastructures that support the energy transition and smarter resource management across the continent.
Advisors for the sale of Tech companies
The Baker Tilly Tech M&A team, led by Diego Gutiérrez, advised ArsonData's shareholders throughout the sale process: preparation, search for investors, structuring, and negotiation of the transaction.
Thanks to its in-depth knowledge of the IoT and utilities sectors, as well as its extensive experience in cross-border mid-market transactions, the Baker Tilly team ensured a smooth and competitive process that culminated in a transaction with a clear strategic and cultural fit.
Baker Tilly International's corporate finance services include advice on cross-border transactions for clients operating in multiple locations. The Baker Tilly network spans more than 140 territories, with over 43,000 professionals working in more than 650 offices. Baker Tilly International is an international network of professional business services specializing in advisory, consulting, auditing, tax, and legal, accounting, labor, and management services for SMEs and multinational companies.
