April 20 (SeeNews) - Slovenian metering solutions provider Iskraemeco acquired a majority stake in Croatian IoT company Holosys to expand its portfolio in energy and water management services, it said on Wednesday.
Together, the two companies will be able to offer more comprehensive smart solutions for electricity, water, and gas, enabling them to gain new opportunities and expand their global market position, Iskraemeco said in a statement.
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“Together, we will be able to explore new opportunities in smart metering and 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,” said Iskraemeco executive board member Bahaa Abdullah said.
Holosys produces advanced electronic IoT devices and ICT solutions, particularly focused on Automatic Meter Reading (AMR), where it produces more than 20 electronic devices.