Kongsberg Digital, the industrial software division of industrial, satellite and defence technology company Kongsberg, has invested NOK100m ($11.6m) in eSmart Systems, a Norway-based developer of digitalisation software for the power industry.
Founded in 2013, eSmart has built an analytics platform compatible with Microsoft’s Excel and Azure programs that enables energy utilities to create smart grids and make energy use in buildings, cars, the grid and the home more efficient.
Kongsberg has acquired a 34% stake in eSmart through the investment, and the companies have formed a partnership to deliver advanced analytics and machine learning software and services for the energy sector.
Hege Skryseth, president of Kongsberg Digital, said: “eSmart Systems has in few years built up a technological platform and a strong position for digitalisation of the power industry.
“The company has leading expertise within advanced analytics and machine learning, which is a perfect match for Kongsberg Digital’s competence within this field in addition to our industrial experience and global positions. This partnership establishes a strong Norwegian alliance with international ambitions.”