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Munich Re buys relayr for $300mn in IIoT insurance expansion

Major (re)insurance player Munich Re has used its Hartford Steam Boiler (HSB) subsidiary to acquire relayr for $300mn in cash, as the company looks to leverage relayr’s thing-connecting expertise to improve its insurance offerings. relayr had found a nice niche in connecting installed industrial equipment to the internet, and Munich Re can see the value in tapping that data. Founded in 2013, and based in Berlin, with around 200 staff, relayr may have caught your eye with its chocolate bar shaped developer kit. Since then, it has been quietly carving out its niche. To date, it has some 130 businesses using its software and cloud expertise to connect their equipment, beginning at consultation and going all the way through installation…

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