Swiss Landis+Gyr to acquire Turkish smart meter manufacturer Luna
Swiss smart meter and smart grid solutions provider Landis+Gyr announced it sealed a deal to acquire Turkish smart metering device maker Luna Elektrik Elektronik Sanayi ve Ticaret, or Luna, in order to expand its core capabilities in smart metering as well as geographic footprint. The Swiss firm is paying a high double-digit million US dollar purchase price, but the exact value of the deal remains undisclosed.
“The acquisition will allow Landis+Gyr to gain a meaningful share of the Turkish market, where the transition to advanced metering infrastructure has yet to commence, and utilise Luna`s vertically integrated manufacturing to drive sales in adjacent markets,” the Swiss firm noted in a press release.
Established in 1991, Luna offers smart metering devices and associated software solutions for electricity, water and heat. The Izmir-headquartered company employs over 850 people and has a production capacity of more than 400 000 smart meters per month.
LATEST issue 4/2023