Adaptricity AG’s modular and cloud-based solution platform represents for Secure Meters Limited an ideal strategic addition to its own product portfolio for distribution network operators.
Secure Meters Ltd, an Indian multinational, having presence in 50 countries, acquired 100% stake in Adaptricity AG, a Switzerland based premium provider of smart grid solutions with innovative cloud-based grid analytics platform. Singhi Advisors, a global investment bank acted as the sole Advisors to Secure Meters Ltd for the transaction.
Adaptricity, majority owned by Euro 4 bn German multinational Leoni AG – a leading producer of wires and wire systems, was divested as part of pursuing LEONI’s strategic focus on its core business. Secure Meters Ltd, with global installation base of 50 million meters, found a complimentary fit in Adaptricity’s products and markets, thereby giving it access to newer markets and product offerings and enabling their combined customers transition to Net Zero. Leoni AG was advised by Proventis Partners, a member firm of Mergers Alliance, wherein Singhi Advisors is the exclusive Indian member and a strategic stakeholder.
“Adaptricity and Secure Meter’s products, market reach and approach are completely complimentary to each other, bringing access to new markets and enabling our combined customers to transition to Net Zero. It is a synergistic fit to Secure Meter’s existing products being a source of key input data to Adaptricity’s analytics platform” – Mr Sunil Singhvi – CEO – Energy SBU – Secure Meters Ltd
Secure Meters’ products and services form a core part of the net zero and decarbonisation journey as they meter, monitor, manage and reduce the use of energy from generation to consumption and their solutions include grid metering, consumer gas and electricity smart metering systems, pump and blower efficiency services, consumer products and services for electric and gas consumption.
Adaptricity AG’s modular and cloud-based solution platform represents for Secure Meters Limited an ideal strategic addition to its own product portfolio for distribution network operators. Secure Meters plans to invest in the further expansion of the technology and to integrate Adaptricity AG’s products into its international sales activities. Adaptricity AG will operate as a 100% subsidiary of the Secure Meters Group.
Source: Business World
