Siemens Infrastructure & Cities has bought Brazilian smart meter company Senergy Sistemas de Medição.
Senergy is located in Belo Horizonte in south eastern Brazil and has around 100 engineers.
New regulations and the need of utilities to prevent and combat non-technical losses are expected to drive a boom in the Brazilian smart meter market.
Jan Mrosik, chief executive of the Smart Grid division of Siemens Infrastructure & Cities, said the acquisition would allow Siemens to support the Brazilian Electricity Regulatory Agency “in their efforts to significantly reduce the annual economic damage caused by non-technical power losses over the long term”.
Guilherme Mendonça, director of the Smart Grid division of Siemens Brazil, added: “With the Senergy acquisition we are ready to lead the smart metering market in Brazil.”