HMS Industrial Networks

What HMS Industrial Networks does

HMS Industrial Networks AB (operating as HMS Networks) is a Swedish industrial ICT company headquartered in Halmstad, Sweden, founded in 1985 and publicly listed on NASDAQ OMX Stockholm (OTC: HMNKF). The company develops and sells hardware and software that enable machines, devices, and systems to communicate across industrial networks, including Fieldbus, Industrial Ethernet, CAN, Automotive Ethernet, and wireless protocols. Its portfolio is organized around eight sub-brands (Anybus, Ewon, Intesis, Ixxat, N-Tron, Owasys, PEAK, Red Lion) spanning embedded network interfaces, industrial remote access gateways, building automation protocol converters, CAN/functional safety products, ruggedized Ethernet switches, and HMI/data visualization, plus cloud services (Talk2M, Argos, M2web, Intesis AC Cloud).

HMS makes money primarily through hardware product sales (network interfaces, gateways, switches, PC interfaces, embedded modules) with unit pricing for some SKUs (e.g., Ixxat CAN@net Basic at EUR 270) and quote-based pricing for enterprise gateway deployments. A growing share of revenue is recurring through cloud subscriptions (Talk2M, Argos, Intesis AC Cloud), augmented by professional services and HMS Academy training. Go-to-market combines direct enterprise sales via 18 country offices with a certified distributor network of more than 400 partners across 50+ countries, e-commerce partners (RS Components, Conrad, Digi-Key, NHP), and an HMS Marketplace portal for distributor self-service.

The company serves industrial OEMs and machine builders, automotive manufacturers, building automation integrators, water/wastewater operators, energy storage and EV charging infrastructure providers, and medical device manufacturers. Since 2004 HMS has pursued a brand-acquisition growth strategy (Anybus 2004, eWON 2015, Intesis 2020, Red Lion 2023, PEAK-System 2024, Molex Industrial Communications 2026), with combined annual sales now exceeding SEK 4.4 billion, 1,100+ employees, and global operations spanning Europe, North America, Asia Pacific, and the Middle East. Q1 2026 results showed SEK 971M in net sales (9% growth, 15% organic), SEK 1,108M in order intake (19% growth), and a 27.2% EBITA margin.

Name

HMS Industrial Networks

Legal name

HMS Industrial Networks AB

Website

https://hms-networks.com

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

HMS Networks is a Swedish publicly listed industrial ICT company that sells hardware and software enabling machines and devices to communicate across industrial networks, serving factory automation, automotive, building automation, and energy customers worldwide through direct sales and a 400-partner distributor network.

Ownership category

akta.pro rank

Product category

Industrial Communication Solutions

NAICS

Other Communications Equipment Manufacturing (33429), Other Communications Equipment Manufacturing (334290), Computer and Peripheral Equipment Manufacturing (33411)

SIC

Industrial Instruments For Measurement, Display, And Control (3823), Electrical Industrial Apparatus (3620), Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Industrial Networking & Connectivity (Industrial Ethernet, Fieldbus, IO-Link) (IMAHAHAI)

akta.pro secondary industries

Industrial Networking & Connectivity (Industrial Ethernet, Fieldbus, Gateways) (IMAGABAE), Industrial Networking & Communication Electronics Manufacturing (Ethernet switches, Fieldbus, Wireless) (IMAGAGAE), Embedded & HMI Electronics Manufacturing (Industrial PCs, HMIs, Panel PCs) (IMAGAGAD)

Keywords

• Industrial communication solutions
• Industrial network connectivity
• Remote access gateways
• Building automation gateways
• CAN and Ethernet interfaces

Headquarters

HQ city

Halmstad

HQ country

Sweden

HQ region

Europe

Offices23 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Hardware Product Sales: Sale of industrial communication hardware including network interface cards, gateways, protocol converters, switches, industrial wireless products, PC interfaces, and embedded modules
2. Software and Cloud Services: Recurring cloud service revenue from Talk2m, Argos IoT cloud, Intesis AC Cloud, and M2web platforms, combined with software licensing and subscription services
3. Professional Services and Training: Training services through HMS Academy (onsite, online, e-learning) and professional services including project planning, evaluation demos, configuration validation, and field trial support

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

HMS Industrial Networks designs, manufactures, and sells industrial communication hardware and software that enables machines, devices, and systems to connect across industrial networks. Its portfolio includes embedded network interfaces, remote access gateways, protocol converters, industrial Ethernet switches, and the Talk2m cloud platform, sold under sub-brands such as Anybus, Ewon, Intesis, Ixxat, N-Tron, PEAK, and Red Lion. The offering serves industrial OEMs, system integrators, and machine builders across factory automation, building automation, automotive manufacturing, and process automation.

Product overview

HMS Industrial Networks operates as a platform-plus-modules architecture under the 'Hardware Meets Software' tagline, offering a comprehensive industrial communication portfolio through multiple sub-brands. The core offering centers on Anybus network interfaces for embedding communication into devices, Ewon remote connectivity gateways paired with Talk2m cloud service, and Intesis building automation gateways for HVAC integration. Additional specialized brands include Ixxat (CAN/functional safety), N-Tron (industrial switches), Red Lion (data visualization/HMI, acquired 2023), PEAK-System (automotive Ethernet, acquired 2024), and Owasys (cellular connectivity). The portfolio is organized into three main categories: Industrial Data products (HMI, controllers, diagnostics, security, remote gateways), Industrial Network Connectivity (embedded interfaces, gateways, PC interfaces, wireless, switches), and Building Automation (AC/cloud gateways, protocol converters). Recent strategic acquisitions of Molex Industrial Communications (2026) have expanded the product portfolio with additional network interface cards and software stacks.

Differentiator

Problem solved

Functional benefit

Brands

• Anybus: Industrial network connectivity solutions enabling devices to connect to any industrial network, fieldbus or Industrial Ethernet, wired or wireless
• Ewon
• Intesis
• Ixxat
• N-Tron
• Owasys
• PEAK
• Red Lion
• Talk2m
• Argos
• M2web

Products and services

• Anybus Embedded Network Interfaces Network interface modules and chips that enable any industrial device to connect to any industrial network (Fieldbus or Industrial Ethernet), wired or wireless, including the Anybus CompactCom embedded communication interface and NP40 network processor. Targeted at industrial OEMs embedding connectivity into their products.
• Ewon Cosy+ Industrial VPN Gateway Industrial VPN gateway that establishes secure VPN connection between a machine (PLC, HMI) and a remote engineer via the Talk2m cloud. Supports Wi-Fi, 4G regional variants, and Ethernet connectivity. Targeted at machine builders and industrial operators needing secure remote access.
• Ewon Flexy Industrial IoT Gateway Industrial IoT gateway combining remote access with IIoT data visualization. Supports multiple protocols and cloud connectivity for machine data monitoring and edge computing. For machine builders and end users in factory and process automation.
• Ewon Edge & Cloud Edge computing and cloud connectivity solution for industrial applications, extending the Ewon line with combined on-device processing and cloud services.
• Intesis Building Automation Gateways Network gateways and protocol converters that enable building devices (HVAC, AC units, heat pumps) to communicate with any building automation system, including KNX, BACnet, and Modbus, with optional cloud connectivity via Intesis AC Cloud and ST Cloud. Targeted at building automation integrators and HVAC OEMs.
• Ixxat CAN and Industrial Ethernet Products CAN, industrial Ethernet, and functional safety products enabling networking and reliable communication for control, commissioning, and maintenance. Includes PC interfaces, gateways, and protocol software stacks for automotive, medical, and industrial applications.
• Ixxat CAN@net Basic Gateway Cost-efficient CAN-FD-to-Ethernet gateway for industrial and automotive networking applications, addressing latency and jitter control via UDP/IP, flexible network scaling, and cost optimization. Priced at 270 Euros.
• N-Tron Industrial Ethernet Switches Industrial-grade Ethernet switches, both managed and unmanaged, designed for demanding environments requiring quality and ruggedness. Includes switches with fast boot, rapid network recovery, and IEEE 1588 PTP time synchronization.
• N-Tron NT7000 Managed Industrial Ethernet Switch Series Advanced managed industrial Ethernet switch platform for mission-critical environments. Features fast boot under 7 seconds, ~20ms network healing time, and hardware-based IEEE 1588 PTP for sub-microsecond time synchronization. Certified for UL Ordinary/Hazardous Locations, ATEX, and IECEx.
• Red Lion Industrial Data Visualization & Control Industrial data visualization and control product line for harsh industrial environments, including Graphite-series HMIs, panel meters, industrial controllers, and data acquisition devices. Supports Modbus, Ethernet/IP, and other industrial protocols, configured via Crimson software. Targeted at industrial operators and OEMs.
• PEAK-System CAN and Automotive Ethernet Products Hardware and software enabling communication with CAN, Automotive Ethernet, and LIN protocols for automotive, medical, and industrial applications. Products include PC interfaces, media converters, and gateway solutions for in-vehicle networking.
• PAE-Media Converter (PEAK) Automotive Ethernet media converter connecting 100BASE-T1 or 1000BASE-T1 networks with standard Ethernet for automotive development and testing. Includes physical link interruption for fault simulation, dual-speed conversion, and H-MTD/MATEnet connector support.
• Owasys Industrial Cellular Communication Industrial communication solutions providing cellular connectivity and remote management for industrial devices and machines.
• Netbiter Remote Monitoring Gateway Remote monitoring gateway that connects to the Argos IoT cloud platform for visualization, monitoring, management, and control of field equipment. Used in water/wastewater and other industrial remote-monitoring applications.
• Talk2m Industrial Cloud Service Industrial cloud service providing secure VPN connectivity for Ewon gateways, with the M2web web access platform and Ecatcher VPN client. Backed by globally redundant server infrastructure and ISO 27001 certification.
• Intesis AC Cloud / ST Cloud Control Cloud services that allow remote control and monitoring of domestic, commercial, and VRF air-conditioning units as well as BACnet/Modbus devices via web dashboard or smartphone app. Built on Intesis gateways.
• Argos IoT Cloud Platform IoT cloud platform used with Netbiter gateways to visualize, monitor, manage, and control remote field equipment across distributed industrial sites.

Quantifiable outcome

• 15% organic sales growth in Q1 2026
• +2 more outcomes

Named customers6 records

Segments8 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature6 records

Partnerships

Three partnerships are on record, tiered core and minor.

• RS (RS Components)coreChannel Partner/ Reseller/ Distributor · 24 March 2026Global industrial solutions provider collaboration offering Red Lion brand communication, monitoring, and control solutions tailored for harsh industrial environments in oil and gas sector. RS provides real-time telemetry, resilient connectivity, and automation capabilities to streamline operations.
• Microsoft AzurecoreTechnology or IntegrationHMS Networks offers Azure Connected Machine Solutions enabling OEM machine builder customers to integrate machine data with Azure services for scalable production asset management, integration with Microsoft Dynamics, CRM, and third-party applications like Salesforce, SAP, and Oracle.
• Solution Partners EcosystemminorImplementation/ SI/ Consulting PartnerSoftware solution partners developing IoT applications using HMS hardware, including dDruid (no-code IoT), Rilheva (asset monitoring), Tagup (building control), and others integrating with Talk2m cloud platform.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Advantech: Advantech provides industrial Ethernet switches, IIoT gateways, and edge computing platforms — comparable to HMS in industrial connectivity but with stronger Asia-Pacific positioning and a broader industrial PC catalog.
• HMS competitor in building automation: Loytec (acquired by Delta): Loytec (now part of Delta Electronics) provides building automation gateways and protocol converters — directly comparable to HMS Intesis product line for HVAC and BMS integration, primarily serving the European market.

Direct peers

• Moxa: Moxa is a leading global supplier of industrial networking, computing, and automation solutions — competing head-to-head with HMS's Anybus and N-Tron product lines in industrial Ethernet switches, protocol gateways, and edge connectivity.
• Weidmüller: Weidmüller provides industrial connectivity, automation, and digital industrial solutions — overlapping with HMS in industrial Ethernet switches, gateways, and fieldbus connectivity for factory and process automation.
• Phoenix Contact: Phoenix Contact manufactures industrial connectors, automation systems, and network infrastructure including Ethernet switches and protocol gateways — competing with HMS across factory automation connectivity and Industrial Ethernet.
• Belden: Belden owns Hirschmann (industrial Ethernet switches) and Tripwire (cybersecurity) — directly comparable to HMS's N-Tron industrial switch line and adjacent to HMS's industrial cybersecurity positioning for OT networks.

Regional players

• Wieland Electric: Wieland Electric supplies industrial networking, building automation gateways, and connectivity solutions primarily in Europe — overlapping with HMS Intesis and Anybus product lines in HVAC and building automation.

Broad incumbents

• Rockwell Automation: Rockwell provides FactoryTalk and Allen-Bradley networking products as part of its full-stack automation offering — competing with HMS Ewon and Anybus in connected enterprise solutions for discrete manufacturers.
• Cisco (Industrial Ethernet / IOx): Cisco's Catalyst IE switches and IOx platform target industrial networking at the IT/OT boundary — a much larger competitor addressing the same factory connectivity use cases as HMS Anybus and N-Tron.
• Siemens (RUGGEDCOM / SCALANCE): Siemens offers RUGGEDCOM and SCALANCE industrial networking as part of its broader automation portfolio — a much larger incumbent where HMS Anybus interfaces sit as third-party complements to Siemens PLCs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/c/HMSNetworks
• LinkedInlinkedin.com/company/287056
• Xx.com/hmsnetworks

Compliance13 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A8 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HMS Industrial Networks