Iskraemeco, an advanced Energy, and Water Metering Management solutions provider has acquired a major share in Holosys, a provider of advanced electronic IoT (NB-IoT, LTE-M, wireless M-Bus) and ICT solutions.

The new alliance will consolidate resources and expertise in cutting-edge technologies of both companies and will contribute to expanding Iskraemeco’s industry-leading energy and water management portfolio, leveraging global market presence, maintaining strong partnerships with a broad customer base in the energy, water, industry, infrastructure, and smart cities fields.

Together, Iskraemeco and Holosys will offer more comprehensive smart solutions for the electricity, water, and gas sectors, to explore new opportunities, grow faster with a strong foundation, and further strengthen their leadership positions in the EU, ME, LATAM, and Africa regions.

The agreement was approved and signed during a ceremony attended by Eng. Ahmed El Sewedy, President and CEO, Elsewedy Electric, Mr. Bahaa Abdullah, Executive Member of the Iskraemeco Board of Directors and CFO, Luis Goncalves, CEO, Iskraemeco Group, Tomislav Lekić, Co-founder of Holosys, Zoran Zoričić, and Ivan Lukačević.

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

For more than seven decades, Iskraemeco has delivered quality products, solutions, and services that enable efficient water and energy use. The company focuses on technologies and concepts that drive the development of new innovative products, solutions, and services. Iskraemeco is a global company with offices and manufacturing facilities in several countries worldwide. In 2007, Iskraemeco joined Elsewedy Electric and gained a valuable business partner and unprecedented opportunities for growth and development.

On the other hand, Holosys’ portfolio consists of more than 30 devices (pulse readers, repeaters, receivers, sensors, gateways, antennas) as well as supporting software and platforms for remote reading of water, gas, electricity, and heat consumption. Holosys' solutions are deployed on five continents in more than 50 countries.