Eurotech S.p.A., a leading provider of Edge Computing solutions for mission critical applications, announced that it has successfully completed the acquisition of InoNet Computer GmbH from InoNet GmbH for Euro 10 million. InoNet Computer is a German company operating in the sectors of Industrial PCs (IPCs) and embedded systems for special applications.
Founded in 1998, InoNet supplies custom and configured systems to customers in the medical, industrial, and automotive sectors. For fiscal year 2022, ending March 31, 2023, InoNet expects revenues of €17.5 million (€15.2 million in fiscal year 2021).
Eurotech and InoNet markets
The addition of InoNet is intended to give Eurotech relevance, critical mass, and access to the German market. InoNet and Eurotech share the same focus on critical applications, high-quality products, and high value-added solutions. In addition to this affinity, the two companies have a strong complementarity of products, markets, and channels.
InoNet represents a solid platform for Eurotech to accelerate in the emerging global Edge AI market, growing over 30% YoY, starting from Industrial PCs type products. In addition, integration with Eurotech’s Edge software and cybersecurity certifications are intended to enable important differentiation and accelerate the company’s journey towards being a leading provider of integrated devices for Edge AIoT applications. Finally, InoNet’s portfolio of midsized customers provides up-selling opportunities for Eurotech’s Edge Software Framework (ESF) and Everywhere Cloud (EC).