Renovo Capital-owned Otodata acquires Wise Telemetry

The U.S. affiliate of Montreal-based Otodata has acquired Wise Telemetry, a Pittsburgh-based provider of remote monitoring devices and services for the industrial gas industry.

The U.S. affiliate of Montreal-based Otodata has acquired Wise Telemetry, a Pittsburgh-based provider of remote monitoring devices and services for the industrial gas industry. No financial terms were disclosed. Otodata, a remote monitoring and asset tracking business, was acquired in January by US private equity firm Renovo Capital.

PRESS RELEASE

MONTREAL, April 14, 2021 /PRNewswire/ – Otodata Technologies USA (“Otodata”) is pleased to announce that it has acquired Wise Telemetry, a leading provider of remote monitoring devices and services for the industrial gas industry.

Founded in 2008, Otodata designs, develops, and manufactures market leading remote level monitoring products and technologies for a variety of industries. Otodata’s unique monitoring software that accompanies the hardware, allows users to monitor their tanks remotely, providing insightful, real-time data to drive asset and labor productivity in their business.

“We are so pleased to be working with the Wise Telemetry team. This acquisition will accelerate our diversification into the industrial gas market, allowing us to leverage our innovative solutions for remote tank monitoring and serve this growing segment. This represents an important step in our strategy to address the growing demand for reliable, affordable and automated tank monitoring solutions across a variety of industries and geographic markets,” said Andre Boulay, President and Chief Executive Officer of Otodata.

“The Wise team is thrilled to be part of Otodata. Joining forces allows us to provide our customers with additional products, services and innovative pricing structures, enabling them to monitor every asset and receive an instant return on their investment, both locally and abroad.” said Eric Wise, Founder and CEO of Wise Telemetry.

About Otodata Technologies USA:
Otodata has been a key player in the tank monitoring industry for almost a decade. Its goal has always been to produce a monitor with the lowest cost of ownership in the industry, making large-scale implementation affordable for all fuel resellers.

About Wise Telemetry
Wise Telemetry is a leading provider of remote monitoring devices and services for the industrial gas industry. Founded in 2014 by Eric Wise, the company has the capacity to monitor every aspect of gas distribution from tanker trucks and bulk tanks to dewars and cylinders. Wise Telemetry is a proud member of the Gases and Welding Distributors Association (GAWDA).