Norvestor to acquire a 60% stake in Smartvatten.

Norvestor, a private equity, agreed to acquire a 60% stake in Smartvatten, a hardware-enabled SaaS company. Financial terms were not disclosed. Taaleri, a Finnish wealth management group and current shareholder in Smartvatten, will reinvest in company. "Water prices in the Nordic markets may triple within the coming decade as local water utilities improve their ageing networks. Customers need new efficient solutions and services to reduce water consumption and keep soaring water bills under control. Smartvatten has only just started to scratch the surface of this market with its services. With Norvestor’s competence and coaching, we will be able to accelerate the growth of our positive footprint to the market and environment," Jussi Niiniaho, CEO of Smartvatten.