Financial and tax DD of Qowisio for Ocea Smart Building
7 Oct 2022
Eight Advisory assisted Ocea Smart Building with the financial and tax due diligence for its acquisition of Qowisio, a designer on the IoT market in the residential and tertiary sector.
The OCEA Group has announced the acquisition and integration of a new subsidiary, Qowisio.
The OCEA Group is a player in the energy transition. It supports its customers in optimising their consumption, reducing their costs and initiating the energy transition of their building. The group has two subsidiaries, Ocea Smart Building and Isiom Conseil, as well as a partner, Bornes Solutions.
The Ocea Smart Building subsidiary is a French company specialising in the management of water, heating and energy consumption in buildings. It has 29 branches throughout France, and offers a complete range of services from the installation of smart meters, individual billing and metering, to data analysis.
Qowisio is an Anjou-based company that designs and markets IoT solutions: sensors, communication gateways and software applications that enable real-time monitoring of the data collected. More than 100,000 sensors have been deployed in over 20 countries.
This transaction will allow both companies to increase their customer portfolio and pool their know-how to continue to grow.
The Eight Advisory team in charge of the financial due diligence was led by Sébastien Smercan.
The Eight Advisory Tax team in charge of the tax due diligence was composed of Guillaume Rembry, Guillaume Exerjean and Clémentine Vandeputte.