"We are delighted to strengthen our relationship with HSB to push digitalization in commercial and industrial markets and strive for our mission to help commercial and industrial businesses stay relevant," Josef Brunner, chief executive officer of relayr, said in a press release. (Image: Shutterstock)
HSB Group Inc., part of Munich Re, has acquired relayr Inc., a global Industrial Internet of Things (IIoT) technology company. HSB acquired 100% of relayr's shares and equity interests for $251.7 million in cash after accounting for the 15.51% of HSB's previous minority interest in the company.
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