Together, the two companies will be able to offer more comprehensive smart solutions for electricity, water, and gas, enabling them to strengthen their leadership positions in the EU, ME, LATAM, and Africa regions and gain new opportunities to expand their global market position.

The acquisition agreement was approved by the boards of both companies. Eng. Ahmed Elsewedy, Bahaa Abdullah and Luis Goncalves, attended the signing ceremony of the acquisition on the part of Iskraemeco, on the Holosys side, Tomislav Lekić, Zoran Zoričić and Ivan Lukačević were present.

Following the acquisition, the current management team will continue to run Holosys’ business as part of the Iskraemeco Group.

“We welcome the Holosys team to the Iskraemeco Group. I am convinced that in addition to the technological and financial synergies, the company’s expertise in communication solutions, especially low power narrowband IoT, and services will add value to Iskraemeco’s advanced energy and water management solutions. 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 Bahaa Abdullah.

“I am very pleased that Holosys is joining forces with Iskraemeco. 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 set will consist of a range of smart meters, meters, sensors, data management and software services for metering, billing, customer engagement, and network optimization. The company will now be able to grow faster with a strong foundation. This will also bring more opportunities in the global market and for the growth of the Holosys team,” said Tomislav Lekić, co-founder of Holosys.