ConnectM Technology Solutions (CNTM) said Monday it acquired wireless communication product developer, MHz Invensys, in an all-stock deal in exchange for MHz's assets, consisting mainly of intellectual property.
MHz founders Kiran Kumar and Mahesh Oni will stay on as ConnectM employees, the company said.
ConnectM said it expects to generate an additional $15 million of revenue from the advanced metering infrastructure vertical alone over the next three years.
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