Contributor: WEG Electric Corp.

WEG S.A. announces to shareholders and the general market an agreement to acquire 51% of V2COM’s share capital, a company specializing in IoT (Internet of Things) and complete telemetering solutions for power and smart grid systems.

Founded in 2002, V2COM is headquartered in São Paulo (SP) with a hardware factory in Florianópolis (SC). With strong experience in the energy sector, the company has a broad portfolio of projects implemented in telemetry, reporting, loss analysis and IoT for companies, utilities and service providers of electricity, water, gas, among others. It controls, specifically in the electric utilities segment, assets totaling over 30GW of installed power. Employing approximately 56 people, V2COM had a net revenue of R$ 37 million in 2018.

With the capability for Industry 4.0, V2COM develops sensing solutions using its IntelligenceWare Suite IoT platform. In addition to operating in innovative ways with software and systems in various segments, they also offer connectivity in any environment, including through satellite. V2COM is in front with agreements with international providers for projects using 5G technology in Brazil.

“This is another important step towards WEG’s entry into the new niche markets that will be demanded by the expansion of Industry 4.0, connectivity and IoT. Our investment in V2COM will also strengthen our presence with customers as a monitoring and management software provider”, says Manfred Peter Johann, Chief Operating Officer of WEG Automation.

About V2COM – Founded in 2002, it is a leading company in the Internet of Things (IoT) platform, intelligent software and systems, offering the market complete solutions that include hardware, software, connectivity and services, reducing losses and increasing the efficiency of its customers’ processes. It has an installed base of over 1.5 million connected devices and assets in Latin America. Its IoT IntelligenceWare platform accelerates project development and maximizes return on investment for companies with distributed processes and assets, leading them on their journey of digitization and process and data management automation.

WEG is highlighted by international Institutional Investor magazine