Sagemcom target smart metering business through acquisition
The French firm has fully acquired Italian smart metering competitor, which will operate under the Sagemcom Italia brand
French company Sagemcom has fully acquired Italian provider of smart metering solutions Meter Italia. The acquisition was made through its subsidiary Sagemcom Energy & Telecom SAS. Following the acquisition Meter Italia will operate under the Sagemcom Italia brand.
Sagemcom said that this acquisition will allow the firm to access and actively participate in the growth of the gas smart metering market. Meter Italia has a complete portfolio of traditional and smart residential gas meter, as well as a range of industrial gas meters.
The combining of the competencies of Meter Italia and Sagemcom will also allow the French company to address new technology breakthroughs in multi-energy metering space.
“This acquisition is at the heart of our growth strategy, especially because the smart multi-energy metering market is a promising future for our Group. This strengthens our position as a leader of the multi-energy metering market, specifically in EMEA thanks to Meter Italia’s positions and our presence on the Italian market,” Patrick Sevian, CEO of Sagemcom, said.
“The integration of an actor like Meter Italia is a real opportunity to immediately become a major player in gas, thanks to the combination of Meter Italia’s know-how and reputation in the manufacture of gas meters, together with Sagemcom’s expertise in energy management solutions, communication infrastructures and IoT” said Eric Rieul, VP of Sagemcom Energy & Telecom.
Meanwhile, Boris Ferraresi, the CEO of Meter Italia, said that this transaction represents a huge opportunity for the company as it will be able to develop its business internationally.
Sagemcom operates in different segments including broadband (digital home, set-top boxes, Internet routers, telephony and multimedia terminals), smart city (smart metering, smart grid, smart infra, smart sites and smart services), and internet of things (IoT).
Sagemcom employs 4,000 people and ships approximately 25 million terminals every year.