Iskrawmeco, a provider of advanced energy, water metering and management, has agreed to acquire Holosys, a provider of the Internet of Things (IoT) and information and communication technologies (ICT) solutions.
By combining companies’ resources and expertise across technologies, the new alliance will contribute towards expanding the former’s energy and water management portfolio with advanced communication solutions as well as maintaining partnerships with a broad customer base in the following technical fields—energy, water, industry, infrastructure and smart cities.
Together, both companies will be able to offer more comprehensive smart solutions for electricity, water and gas, enabling them to strengthen their positions in Europe, the Middle East, Latin America and Africa regions, and gain new opportunities to expand their global market position.
Bahaa Abdullah, executive member of the Iskraemeco board of directors and group GFO, commented: “Jointly, we will be able to tackle new smart metering opportunities and continue to exceed our customers’ expectations. This acquisition will allow us to expand our market reach, better leverage our global market presence, have a stronger team and explore new opportunities together.”
Following the acquisition, the current management team will continue to run Holoss’ business as part of the Iskraemeco Group.
Tomislav Lekić, co-founder of Holosys, concluded: “I am convinced that this will take our customer experience to a higher level as we now have a complete product portfolio for energy and water management and a valuable new partner. The solution package will consist of a range of smart meters, metering devices, sensors, data management and software services for metering, billing, customer engagement and network optimisation.”