In a press statement, Eltel said it bought the company due to its strong presence in the smart meters landscape in Germany.
The acquisition comes at a time U-SERV has a reference of more than 5 million installations of smart meters including a new order backlog for deployment of 1,6 million units in the western European country.
In addition to rollout of smart meters, Eltel will also take over the company’s product offering including field service assets for national meter read-outs and customer self-readings.
[quote] The Swedish headquartered smart grid solutions provider will continue smart metering business development contracts signed between U-SERV and ATV, and EVB Elektronik.
The two semiconductor distribution companies will continue to participate in pre-sales customer meetings, sales negotiations and general promotion of Eltel services in the power distribution landscape in Germany.
Eltel says its main focus is to take advantage of the huge potential for growth of the smart metering market in Germany due to the country’s legislation ‘Digitale Energiewende, leveraging utilities’ deployment of smart meters between 2017 and 2032.
In Germany the total amount of electricity meter points amounts to 43 million, states the company statement. [Europe to hold lion’s share of smart gas market, says report].
Juha Luusua, President of Eltel Power Distribution said his firm has been “preparing an entry in the German smart metering market for some time.”
To date, Eltel operates in the Nordic and Baltic regions, Poland, Germany, the UK and Africa.
Eltel in smart meters deployment
The acquisition of U-SERVE comes at a time Eltel announced during the last quarter of 2015 that it has joined a consortium to assist DONG Energy and Kamstrup deploy smart meters in Denmark.
The company said the EUR20 million deal means it is now one of two firms to partner with metering manufacturer Kamstrup to deploy part of one million smart electricity meters in Copenhagen and its surrounding areas. [ELTEL joins Danish smart meter rollout consortium].
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