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.

relayr was founded back in 2013 with the initial aim of helping software developers hack around with hardware, at a time when developer interest in IoT was just taking off.

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