EntSun News

Popular on EntSun

Similar on EntSun

KALROCK announces a successful closing of the relayr acquisition by Munich RE subsidiary HSB Group

EntSun News/10756041
LONDON - Oct. 26, 2018 - EntSun -- KALROCK, a global alternative asset manager, announced today a successful closing of the relayr acquisition by insurance group Munich Re through their wholly owned subsidiary HSB Group Inc.

relayr provides IoT middleware, customized software and consulting to support the digital transformation of industrial and mid-sized commercial companies across the globe. The combination of relayr's customized IoT business outcome solutions backed by the financial assurance of Munich Re and HSB will further fuel relayr's growth.

HSB acquired 100 percent of relayr's shares and equity interests for $251.7 million in cash after accounting for the 15.51 percent of HSB's previous minority interest in the company, valuing the total transaction at around $300 million. The investment was funded through a capital contribution from Munich Re.

More on EntSun News
Florian Fritsch, Chairman of KALROCK, said: "We are incredibly proud of the whole team at relayr and seeing their progress since the early days is extremely impressive."

Igor Starha, Partner at KALROCK added: "Bringing a strong and trusted partner onboard through this transaction is an important milestone for relayr on their journey towards building a global category leader in the IoT space and really shows the maturity of the business."

About Kalrock

KALROCK is a global firm operating in financial advisory and alternative asset management, managing significant partners' assets across a number of diversified strategies. Although making occasional appearances in public markets, the firm is mainly active in the following three private verticals: Real Estate, Venture Capital and Advisory.


20 North Audley Street, W1K 6LX, London, UK
+44 (0) 20 3931 9770

Source: Kalrock
Filed Under: Business, Technology

Show All News | Report Violation

1000 characters max.

Latest on EntSun News