This Research Note explores what’s behind the acquisition of Airthings’ business segment by Zehnder Group, a Swiss indoor climate solutions manufacturer, announced on 16th June 2025. We examine the transaction details, Zehnder Group’s strategic rationale, and its ongoing portfolio transformation. Transaction Details Airthings ASA has agreed a non-binding exclusive Letter of Intent (LOI) for the sale of the company’s Business segment assets to Zehnder Group AG.  By divesting its business segment assets, Airthings would secure additional capital to focus on the continued development of the consumer business, the company’s largest activity, representing almost 80% of revenues. Under the LOI, Zehnder Group will take over all operational Airthings Business segment assets, including technology, customer contracts, inventory, and employees. Following a customary due diligence by Zehnder Group, Airthings and Zehnder Group intend to sign a definitive Asset Purchase Agreement by early July 2025. Airthings 2024 Financial Results As reported in our Research Note on Airthings 2024 Financials, […]