On December 7th 2023, Esyasoft Holdings, a subsidiary of Sirius International Holding headquartered in Abu Dhabi, UAE and Landis+Gyr India Ltd. entered into a definitive agreement to form a joint venture known as Esyasoft Landis+Gyr Ltd. This joint venture will enable Esyasoft to offer a full suite of end-to-end smart metering solutions along with Landis+Gyr's proven communications technology, enterprise software and services, and inclusive of Esyasoft's MDM (meter data management) solution to the rapidly growing regional and global markets. The transaction is expected to close in the first half of 2024.
Next to 1-phase, 3-phase, and LTCT (low tension current transformer) smart meter designs from Landis+Gyr India Ltd., the joint venture will acquire the India manufacturing facility of Landis+Gyr India Ltd. and further includes the obtaining of a technology license from Landis+Gyr India Ltd. and the collaboration with Landis+Gyr India Ltd. for obtaining technical services.
This joint venture will further enable the provision of state-of-the-art energy management solutions both in India and globally – helping tackle sustainability challenges, aiding the grid decarbonization efforts and accelerating societal development on a large scale.
