Doro to be acquired by Norwegian smartwatch maker Xplora for £61.4 million

Norwegian children’s smartwatch maker Xplora Technologies is set to buy Swedish device manufacturer Doro for £61.4 million (SEK 829 million). The bid of SEK 34 per share is 38.2 percent above Doro’s closing price on the Stockholm Stock Exchange last Thursday.

Doro’s largest shareholders, Accendo Capital, Cidro Förvaltning, and Swedish investor and entrepreneur Peter Lindell, have accepted the bid. Doro’s board is recommending the bid to its shareholders, describing it as “attractive” and reflecting the company’s “current position and growth potential.”

Xplora Technologies was founded by Sten Kirkbak and has expanded into several markets across Europe and the USA, with products available on platforms like Amazon, Best Buy, and QVC. Xplora sold 500,000 smartwatches last year and currently has over 300,000 active subscriptions.

Doro phones are aimed at the seniors’ market with fewer features than regular smartphones. According to Xplora, Doro sells more than 1.5 million mobile devices annually.

Kirkbak said:
“This is a strategic decision that we believe will create the perfect synergy to boost Xplora’s growth into the senior market.”

He added on social media:

“By leveraging our presence in nine global MVNO markets, we plan to integrate our high-margin SIM cards with Doro’s strong sales volumes. Currently, 25 per cent of Xplora smartwatch sales are paired with our SIM plans, generating NOK 210 million in service revenue with an 80% gross margin. With this acquisition, we are confident we can replicate this strategy, potentially quadrupling our annual unit sales and paving the way for Xplora to reach 1 million subscribers. 

Doro was founded in 1974 and is based in Malmö. Its devices are sold in Europe, North America, and Australia. Doro has moved into the “smart care” space, offering integrated solutions for elderly care homes, personal safety systems, and home monitoring technologies.

It competes with Emporia primarily in the senior-focused mobile phone market. The rivalry intensified in 2011 when Doro initiated legal action against Emporia over design patent infringements, particularly related to Emporia’s TellMe models. The lawsuit concluded in 2014 with a settlement requiring Emporia to cease sales and distribution of the infringing products, along with an undisclosed financial compensation to Doro.