Indian energy firm Secure Meters acquires Swiss smart grid solutions company

by / Friday, 12 November 2021 / Published in News & Updates

Udaipur-based Secure Meters a solutions provider for revenue management, power quality and energy efficiency has acquired 100 per cent stake in Adaptricity AG, a Switzerland-based premium provider of smart grid solutions, both the companies said on Thursday.

Adaptricity, a unit of €4-billion German multinational Leoni AG, manufactures wires and wire systems and the German firm has decided to divest its holding to focus on its core businesses.

Secure Meters’ products and services include 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.

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 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, the statement said.