Teknés Innovation’s expertise is in structural monitoring and geotechnical surveying, and advanced technology in instrumentation, telecommunications and software. It is currently monitoring more than 30 critical structures, including tunnels, viaducts and bridges, controlling more than 2,000 sensors.

Teknés Innovation will keep its name, as well as its organisational structure and headquarters in Asua-Erandio in Spain. CEO and managing director Victor José García Martín and technical director Jorge López Tamames will continue in their roles.

Typsa said the acquisition provided a significant technological leap for the company, with new capabilities to capture data of structural and geotechnical behaviour, together with plans to generate synergies.

The company said the global market for infrastructure monitoring services would increase annually by 14.5% in the coming years, from $US1.7bn in 2021 to US$3.8bn in 2027.

“The main reasons include the ageing of the global infrastructure and buildings stock, a better understanding of the risks to life and capital due to catastrophic infrastructure failures, automation and standardisation in infrastructure maintenance and repair, combined with a decreasing cost of monitoring and surveying technologies, and the emergence of new and stricter regulations regarding the sustainability of infrastructure and buildings worldwide,” Typsa said.