Newlt-listed tech firm Raspberry Pi is set to merge with Internet of Things (IoT) solutions provider SECO to unlock new growth, by combining hardware and software development.
This strategic deal, the value of which has not been revealed, means SECO develop a new human machine interface (HMI) solution using on Raspberry Pi’s technology, targeting a wide range of industrial and IoT applications.
This device is set to move into production by the end of next year, with increased revenue anticipated to follow the year after.
SECO is also expected to bring Raspberry Pi a significant volume of single-board computer based solutions to various end markets, further expanding its reach.
This partnership was announced a month after the company’s first post-IPO report in September, which topped expectations with a 47 per cent rise in gross profit.
While the sector has been faced with higher-than-normal inventory levels, Raspberry Pi expected issues to be resolved soon as it looks towards an improving outlook in the next year
Both firms said their collaboration will allow them to explore opportunities in various emerging fields, such as image recognition and edge AI, which would further their product potential.
Raspberry Pi claimed the deal will also allow it to sell its boards to high-volume Original Equipment Manufacturer (OEM) customers, widening its addressable market.
This partnership forms part of the company’s strategy to engage with larger OEM customers to expand its presence in the industrial and IoT sectors.
Raspberry Pi chief executive Massimo Mauri, said: “I am confident that our combined expertise will drive business growth and innovation in the industrial IoT space”.