Yokogawa Electric Corporation has struck an agreement to acquire 35.2 percent stake at the Finnish-headquartered Sensire Ltd. for €6 million. This aims to strengthen both companies' foray into industrial internet of things (IIoT).

Through this initiative, the two companies aim to develop and provide new services that combine Yokogawa's IIoT architecture; subscription-based IIoT services being developed by its subsidiary, amnimo Inc.; and Sensire's cold chain temperature monitoring solutions.

Sensire offers a full range of specialized temperature monitoring solutions mainly for the cold chain. Sensire's compact and power-efficient temperature sensors collect and transmit temperature data to the cloud for access from personal computers and mobile devices. Supporting a range of wireless communication protocols suitable for land, sea, and air transport applications, Sensire's solutions ensure access to continuous real-time monitoring data that delivers vital quality and compliance information when and where it is needed.

Meanwhile, Yokogawa is developing a cloud-based IIoT architecture in collaboration with Microsoft Corporation. This endeavor aims to provide solutions for the remote monitoring of physical quantities. In addition, Yokogawa's amnimo Inc. business unit is developing IIoT services that use this architecture to provide access to data from not only manufacturing plants but also many other types of facilities and situations, with the aim of delivering subscription-based Measurement as a Service (MaaS).

Having 35.2 percent stake in Sensire, Yokogawa is now the company's largest shareholder. Utilizing Yokogawa's know-how and global network, the two companies will work together to develop new temperature monitoring solutions for the cold chain and other logistics services, and expand this business.