November 10, 2019 by Luke James
SECO has signed an agreement to acquire InHand, a Maryland-based provider of low-power embedded systems and software to manufacturers of portable, battery-powered, and IoT devices.
SECO Group, an Italian producer of embedded “ready-to-use” systems for biomedicine, industrial automation, and transformation has recently completed a deal with InHand Electronics, a Maryland-based company that specializes in the design and production of low-power and single-board computers and mobile devices for the defense, industrial, medical, transportation, infotainment, and field operations equipment markets.
Massimo Mauri, Executive Board Member at SECO Group, said, “We are extremely pleased to have InHand as part of the SECO Group. This is a very strategic acquisition for increasing our presence in the US market thanks to a very skilled R&D department and tier 1 US-based customers. With the combination of InHand and SECO USA we are confident we will be able to achieve new and larger portions of the American market in the forthcoming years”.
SECO, the recipient of 10 million Euros in funding in April 2018, will become one of North America’s leading providers of embedded technologies once CIFUS filing has been approved. This will allow SECO to significantly expand its operations in this part of the world and provide its product offerings to a wider audience of design engineers and manufacturers.
It is clear that SECO’s acquisition is a well-planned strategic move on their part—U.S. acquisition has been a goal of the company for quite some time now and InHand provides SECO with a skilled R&D department and a bank of key customers based in the United States.
A SECO smart meter. Image Credit: SECO US.
SECO’s acquisition allows the company to use InHand’s product portfolio and proprietary technologies and other IP to diversify its own portfolio and provide a wider range of products and solutions to customers across key sectors.
Mark Price, President and Co-Founder of InHand, said, “We are very pleased to be now part of the SECO Group. With our specific capabilities and market presence in the United States, SECO will be able to leverage on expanded expertise in order to grow significantly in our geography. This transaction brings together two companies that complement each other in all areas giving the combined entity a unique platform for future success”.
At the time of writing, the acquisition is pending finalization.
