SAINT-HERBLAIN, FRANCE – Lacroix Group has acquired eSoftThings, consolidating its R&D center and strengthening its positioning around industrial IoT and artificial intelligence, the firm says. No financial terms of the deal were disclosed.
With its expertise in hardware design and software, including embedded software, Lacroix plans to make the new subsidiary the center of the electronics company’s R&D.
eSoftThings has a staff of 50 and has posted an average annual growth of 50% for three years. In 2019, eSoftThings generated revenue of €4.5 million, with a double-digit current operating margin.
"Joining the Lacroix Group teams is an opportunity for us to participate in a great ambition that we share and to collaborate with expert and enthusiastic teams," said Kimmo Vuorinen, president, eSoftThings.
This is the sixth acquisition for Lacroix Group in four years.
Lacroix Group is an EMS company specializing in automotive, home automation, avionics, industry and health sectors.