Munich Re buys IoT middleware startup, relayr, in deal worth $300M

Berlin based Internet of Things (IoT) startup relayr, whose middleware platform is geared towards helping industrial companies unlock data insights from their existing machinery and production line kit by linking Internet connected sensors and edge devices to platform controls, has been acquired by insurance group Munich Re in a deal which values the company at $300 million. Insurance giants and telcos have a clear strategic interest in IoT -- with the technology promising to drive network usage and utility on the telco side, and offering transformative potential for the insurance industry as data streams can be used to monitor equipment performance and predict (and even steer off) costly failures.