D-Fetch AS (D-Fetch) has acquired IoT hardware provider Meshtech AS (Meshtech) to become a complete provider of IoT solutions.
Meshtech was founded in 2014, and is a specialized IoT hardware provider catering to the industrial market and clients. D-Fetch is today one of Meshtech’s largest customers, and the combination of the two companies will create a complete IoT solution provider, with increased visibility throughout the value chain and further influence over the hardware capabilities to release new and more efficient products.
D-Fetch will leverage and utilize its existing knowledge in software for fitness clubs with Meshtech’s hardware and industry expertise to find new and better solutions for the customers. The combination of the two companies will also position D-Fetch to expand its unique software and database logic to explore innovative use cases and industrial applications in new verticals.
Following the transaction, key employees from Meshtech will continue their role and responsibilities in the combined organization. The employees will work closely with the existing management team in D-Fetch to continue delivering its tracking and monitoring sensors to existing and new customers.
The transaction was carried out by way of a direct offer to all shareholders of Meshtech, and was financed through a combination of cash on D-Fetch’s balance sheet and proceeds from an equity financing directed at existing shareholders.
For further information, please contact:
Hugo Maurstad
Chairman, D-Fetch
+47 90 10 43 08
Per Gunnar Nordahl
Chairman, Meshtech
+47 91 61 89 01
About D-Fetch
D-Fetch AS is a unique business optimization platform built specifically for fitness club operators. The company identifies growth opportunities and provide concrete, actionable recommendations in real-time that will improve the workout experience for gym club members while increasing productivity and cutting costs for the operator. D-Fetch uses non-invasive sensor technology that collects millions of data points and scales from ten to ten thousand clubs.
About Meshtech
Meshtech AS is a leading IoT solution provider tracking people, pets and assets using low-energy wireless network technologies. The company is based in Arendal in Southern Norway with offices in Ukraine and India.
