SECO SpA (“SECO”), reference player in the field of technological innovation and Internet of Things solutions listed on Borsa Italiana’s Mercato Telematico Azionario (STAR segment), announces the successful completion of the acquisition of 100% of the assets of ORO Networks (“Oro”), announced on June 3, 2021. Oro’s assets will be owned by SECO Mind US, a newly incorporated company dedicated to the development of IoT and AI analytics solutions.

This transaction allows to further accelerate the adoption in the US market of Clea, SECO Mind’s full-fledged platform integrating Artificial Intelligence (AI), Internet of Things, Cloud Computing and Big Data Analytics (including algorithm development) designed to turn field data into actionable and measurable insights, and provided as a single, one-stop solution that comes natively integrated with all SECO hardware.
 
“AI represents the future: by 2025, 95% of customer interactions will be made by AI algorithms. As SECO, we want to be at the forefront of this trend replacing traditional practices with next-generation solutions to help our customers benefit from a data-driven approach. With the integration of Oro, we are ready to run the extra mile with our clients, to help them become sector leaders thanks to the AI”, said Massimo Mauri, SECO CEO.
 
“AI-as-a-service will enable our partners to benefit from a level of customization and integration never seen before. Oro’s engineering team adds a significant firepower to SECO’s R&D capabilities, allowing for a 24/7, worldwide support for clients to develop custom solutions based on AI. We are ready to target a market that will hit almost USD 200 billion in value by 2025”, said Ajay Malik, CEO of SECO Mind US and founder of ORO Networks.