Valuation Trading Multiples & Precedent Transactions: Industrial IoT Connectivity and Telematics Companies
Valuation benchmarks for Industrial IoT Connectivity and Telematics Companies. Access public trading comps, EV/EBITDA acquisition multiples, and private market data for pitch books and valuation analysis.
1.1 - Industrial IoT Connectivity and Telematics Companies Market Context & Valuation Drivers
Public companies in this group deliver industrial IoT connectivity and fleet telematics platforms that unify devices, vehicles, and equipment into monitored, data-driven operations. Business models blend cloud software subscriptions with edge hardware and gateways, enabling remote access, diagnostics, and workflow automation. They are grouped as valuation comparables given similar recurring revenue profiles, device attach economics, and focus on operational efficiency across industrial and transportation end markets.
Typical capabilities include industrial network connectivity and protocol conversion gateways, remote equipment monitoring and control, fleet telematics with GPS tracking, driver workflow and route optimization, AI-enabled video safety, asset and cargo tracking, proof‑of‑delivery and compliance tools, and analytics dashboards aggregating equipment diagnostics and utilization. Offerings span SaaS platforms, APIs, and edge devices, with integration to legacy PLCs, CAN bus, and building automation systems to orchestrate data across heterogeneous operations.
Primary buyers span industrial manufacturers and OEMs, logistics and transportation fleets, and facilities managers seeking connected operations. Valuation benchmarks emphasize ARR and subscription mix, gross margin expansion from software, device penetration and attach rates, net revenue retention, and operating leverage as deployments scale. Outcomes include lower downtime, improved safety and compliance, higher asset utilization, and actionable analytics that drive measurable ROI and durable customer relationships.
2. Valuation Analysis: Public Trading Comps & Multiples for Industrial IoT Connectivity and Telematics Companies companies
2.1 - Public Peer Groups & Median Valuation Multiples for Industrial IoT Connectivity and Telematics Companies sector
Comparable group 1: Industrial IoT Connectivity and Telematics Companies
HMS Networks
- Enterprise value: $●●●m
- Market Cap: $●●●m
- EV/Revenue: ●.●x
- EV/EBITDA: ●●.●x
- Description: Provider of industrial information and communication technology solutions, specializing in the development and manufacturing of products for connecting industrial equipment to networks, enabling secure data access and integration across various industrial sectors.
- Key Products:
- Anybus: Network connectivity solutions for industrial devices
- Ixxat: Communication solutions for industrial automation
- Ewon: Remote access and monitoring solutions for industrial equipment
- Intesis: Building automation solutions for system integration
- Network Diagnostics: Tools for monitoring and troubleshooting industrial networks.
Microlise
- Enterprise value: $●●●m
- Market Cap: $●●●m
- EV/Revenue: ●.●x
- EV/EBITDA: ●●.●x
- Description: Provider of transportation management solutions, offering telematics, real-time journey management, planning, and proof of delivery solutions to optimize fleet operations and enhance cost-efficiency, sustainability, and compliance for enterprise customers in the logistics sector.
- Key Products:
- Telematics: Systems for monitoring vehicle data and driver behavior
- Real-Time Journey Management: Tools for managing and optimizing routes in real time
- Planning Solutions: Software for scheduling and route planning
- Proof of Delivery: Electronic systems for confirming deliveries and capturing signatures
- Driver Performance Monitoring: Tools for tracking and improving driver performance