Water efficiency specialist, Smartvatten has acquired Neuroflux Oy, a software company specialising in the management of wastewater networks of water utilities. The transaction supports Smartvatten’s goal of being the leading water efficiency service company in Northern Europe. Translink Corporate Finance acted as financial advisor to Smartvatten.

Smartvatten is a hardware-enabled SaaS company, providing its customers with a complete solution for real-time monitoring and reporting of water consumption in buildings. Their customers reduce their water costs and the risk of water-related damage, while improving their sustainability performance. The company’s purpose-built software analyses water consumption data from mechanical, digital, and IoT-enabled water meters in a cloud environment to identify consumption patterns and detect leaks.

The cloud service developed by Neuroflux enables water utilities to combine, visualise and analyse data from the existing wastewater network. The service uses machine learning to identify leaks in the wastewater network, and real-time alerts reduce overflows and help water utilities optimise the efficient functioning of the wastewater network. The service is used in several water utilities in Finland and Sweden, such as HSY, which is responsible for water supply in the Helsinki metropolitan area.

“With Neuroflux’s service, we can also help water utilities operate more efficiently in the future. Finnish-based Smartvatten already has customers in 29 different countries, so this is a great opportunity to export new technology to international markets,” says Jussi Niiniaho, CEO of Smartvatten.

“Water utilities are in a challenging situation with tightening legislation, extreme weather phenomena due to climate change, and ageing infrastructure. The acquisition will give us broader shoulders for the further development of the service and the expansion of our customer base,” says Tuomas Koskinen, CEO of Neuroflux Oy.