Siemens Infrastructure & Cities has bought Brazilian smart meter company Senergy Sistemas de Mediàƒ§àƒ£o.
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 Mendonàƒ§a, 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.”