Spark New Zealand : completes acquisition of Adroit to boost its presence in environmental monitoring solutions

Spark New Zealand today announced it has signed a conditional agreement to acquire all of the
remaining shares in leading environmental Internet of Things (IoT) provider Adroit, further strengthening its ability to support New Zealand businesses to become more productive and sustainable through technology.

Mark Beder, Spark Customer Director - Enterprise and Government, says the investment reinforces Spark's commitment to investing in high-tech solutions that solve problems for New Zealand businesses
that are adapting to an inflationary environment and the transition to a low carbon economy.

"Business and public sector organisations are facing a lot of challenges right now, from escalating costs to labour constraints and the need to reduce environmental impacts. IoT technology enables solutions that address many of these issues, allowing businesses to capture data on the physical and natural environments around them, and using that data to inform better decision making. This acquisition will further grow our presence in the market and provide environmental monitoring solutions at scale to meet this increasing demand."

"Spark has been impressed over the past few years by Adroit's development of a strong product set, and successful delivery of real-time environmental monitoring solutions to clients across New Zealand, and this acquisition recognises the hard work of the Adroit team."

Spark recently surpassed 1.5 million IoT connections earlier this month, with solutions that are now monitoring construction sites, natural water sources, forests, business equipment, electricity, water meters and more.

Adroit specialises in technology solutions for real-time environmental monitoring using IoT for worksites, construction, agriculture, aquaculture, councils, and infrastructure sectors. Adroit's
solutions go beyond monitoring environmental impact, providing insights that improve operational decision-making and meets compliance reporting requirements.

Adroit CEO Blair Stewart says, "Adroit is seeing a steady increase in demand for environmental monitoring as businesses become aware of the technology's capabilities and benefits. Spark's investment in Adroit last year enabled us to work together to meet customer demand while allowing Adroit to continue to operate as a specialist player.

"This is the right time for Adroit to join Spark. Both our businesses are passionate about working with customers to create innovative solutions that deliver more sustainable outcomes. Being able to combine the sector expertise, innovation, and capability of Adroit with Spark's scale, end-to-end offering, and strategic focus will be of real benefit for our customers and our people and accelerate Adroit's growth in this exciting market."

ENDS