Fortum acquires Swedish IoT company Info24

Fortum has acquired the Swedish IT company Info24, a company specialised in the

development of business solutions within the IoT, Internet of Things. The

parties have agreed that they will not disclose the transaction price.



Fortum and Info24 have engaged in close cooperation since 2010 using that

company's cloud-based solution for Fortum's Charge & Drive EV charging

infrastructure solution. Through the acquisition, Fortum will obtain a platform

on which to develop additional services and products for sustainable city

solutions. It is an area that is expected to grow significantly and also

constitutes one of Fortum’s strategic business areas.



“The energy sector faces an intense development environment and fast-changing

needs driven by a combination of several global megatrends: climate change,

urbanisation, active customers and new technologies. Fortum offers several

products and services connected to sustainable city solutions, such as IT

solutions for charging infrastructure, smart home solutions and demand response

services. The acquisition of Info24 will improve our competitive edge in this

business segment,” says Per Langer, Senior Vice President, Technology & New

Ventures, Fortum.



Fortum launched its cloud-based charging infrastructure solution Charge & Drive

back in 2010. This is now the leading solution in the Nordic countries, with

more than 500 chargers in place and international expansion in sight. Right

from the beginning Fortum Charge & Drive has had close cooperation with Info24.

Today Fortum and Info24 are also working together on solutions for

next-generation energy services, such as visualisation and demand response; the

latter solutions are part of the Stockholm Royal Seaport project.



Fortum’s investment will enable Info24 to take a long-term view and allocate

more resources to business development, benefitting both Fortum and Info24's

other customers. Fortum and Info24 have agreed to retain Info24's independent

role in order to maintain speed and flexibility in their development work.



Info24 is a Swedish company specialised in the Internet of Things. Info24

started in 2005 and now consists of seven persons, including both

founder/owners, in combination with outsourced development resources. The

company has been profitable since the start, with a turnover of approximately

SEK 15 million in 2015. Fortum has acquired 100% of the shares. The acquisition

took place on 1 April 2016.





Fortum Corporation

Corporate Communications





Further information:

Johan Ander, Head of Large Programs, City Solutions, Fortum, tel. +46 761 042

064

Björn Sabel, CEO, Info24, tel. +46 768 716 601



Fortum

Fortum's vision is to be the forerunner in clean energy. We provide our

customers with electricity, heat and cooling as well as other energy solutions

that improve present and future life. Already 64% of our electricity generation

is CO2 free. Our main markets are the Nordic and the Baltic countries, Russia,

Poland and India. In 2015, we employed some 8,000 energy sector professionals,

and our sales were EUR 3.5 billion. Fortum's share is listed on Nasdaq

Helsinki. www.fortum.com