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Alfa Laval: makes bet on Internet of Things specialist

( - Sweden's Alfa Laval on Thursday said that it has acquired a 20% stake in AMI Global, a specialist of industrial Internet of Things' (IoT) applications for rotating equipment.

The stake will help Alfa Laval "to further strengthen its competence in IoT technologies," as part of the company's digital transformation efforts as it aims to supply remote monitoring of products and solutions, the engineering firm said.

Las Vegas-based AMI Global is a portfolio company of Cimbria Capital, a private equity firm based in the United States and Scandinavia.

Financial details weren't disclosed.

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