What happened: B.C. company known for waterproof tech for concrete is acquiring 30% of a European tech firm
Why it matters: Kryton will become exclusive North American distributor of sensor technology
Kryton International Inc. has just cemented a sizeable stake in a Danish technology firm specializing in sensors that monitor the concrete-hardening process.
The Vancouver-based company announced Tuesday (September 17) it had acquired a 30% interest in Sensohive Technologies ApS, making Kryton its largest shareholder.
Terms of the deal were not disclosed, however, the arrangement sees Kryton become the exclusive distributor of Sensohive’s Maturix technology.
The technology uses thermocouples and temperature sensors to allow contractors and engineers to remotely monitor the concrete hardening-process in real time through devices connected to the internet.
Conventional sensors typically collect this data through Bluetooth near field communication (NFC), which requires mobile devices to be in close proximity.
“This acquisition is consistent with Kryton’s goal of helping contractors build faster and smarter through innovation,” Kryton CEO Kari Yuers said in a statement.
Kryton is best known for developing technology that waterproofs concrete structures.
Excerpted From Business Vancouver