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We have some important and exciting news in our quest to significantly expand the value we create for our customers from IoT.  The advancements we are announcing are based on our core competencies, partnerships with FMCGs and OEMs as well as an improving capital structure.

As a core provider of IoT solutions to our industry, elstat has watched the sector mature rapidly over the past 12-18 months.  The volume of data on the Nexo Discovery platform has grown dramatically and the number of clients looking to actively leverage that data is impressive and heartening.  To accelerate the implementation of our services to customers, we recognised that a specialised focus is required, with new processes & systems, new network of alliances, and an organisation that can scale exponentially.

As of today, elstat is splitting its hardware business from the newly established assets365 data services division. assets365 is now established as a separate legal entity and the two companies will work in complete independence of each other.

The Nexo brand will now be retired.

elstat will remain a privately owned, independent supplier of connected and non-connected devices to the food and drink industry.

Its new controller range, the EMS3000 series, has been in mass production since April and the business will continue to offer a broad portfolio of devices alongside relevant services such as commissioning tools, firmware configuration, Apps, SDK’s and APK’s.

The company will continue to be headquartered in Preston, UK. Importantly, the company will proactively seek partnerships with all relevant IoT platform vendors.

Andy McCool, previously CFO, has now been promoted to Managing Director.

assets365 is a new business that is revolutionising the way in which IoT programs are deployed and leveraged. It will provide continued support of the old Nexo Discovery platform, now rebranded as assets365, after the acquisition from elstat Ltd. Its two new core offerings will be

1. Control Tower – a new data model offering unrivalled access to key IoT, commercial, and operational data.
2. Control Tower managed services – a new operational model offering remote AND in-field managed services, designed to leverage its customers’ key IoT, commercial, and operational data on their behalf.

assets365 will be headquartered in the UK. The company will be run independently and will seek partnerships with all relevant IoT hardware vendors.

Geoff Morley, previously CEO of elstat, has resigned as a Director of elstat and now takes up the position of CEO at assets365.

Customers who have previously invested in the Nexo solution will continue to be supported as previously, at no additional cost. Hardware support will be provided by elstat, and Discovery platform support by assets365. In summary:

  • elstat provides services to customers up to the point connectivity program data is transferred to customers’ platforms of choice
  • assets365 provides services to customers once connectivity program data has landed on its customers’ platforms of choice
  • All time-based agreements for access to the Nexo Discovery platform will be honoured, albeit the brand name will change
  • All current Nexo solution customers will be contacted with details of the new assets365 services very shortly, and be provided with opportunity to evaluate and upgrade at their convenience. Whilst we believe these new services offer significant value, no customer will be obliged to upgrade if they do not wish to do so.

We understand there may be questions about this announcement. Whether your question is for elstat or assets365, we look forward to hearing from you and working with you.

Andy McCool, MD, elstat ltd

Geoff Morley, CEO & Chairman, assets 365