Sagemcom, European leader in smart meters, takes control of the group FröschlGermany's leading supplier of counting data management software. Through this acquisition, the Sagemcom, one of whose three major activities is energy management via its subsidiary Sagemcom Energy & Telecom, enhances its offering and confirms its ambition to become one of the world's leading players in smart metering solutions.
The contribution of Fröschl in counting data processing software complements the current portfolio of Sagemcom and should accelerate the Group's growth through the acquisition of new customers. By covering the entire value chain, from smart meters to data processing, Sagemcom has become one of the few players able to offer a product range that meets the future needs of energy operators.
Composed of two companies (ITF, Industrie-Technik Fröschl and EDV, Elektronische Datenverarbeitung), the Fröschl employs 70 people and provides service and consultancy to over 250 customers worldwide.
With sales of nearly 1.5 billion euros and 4600 employees worldwide, Sagemcom is the fastest-growing player in the smart meter market (40 % in 2011) and the only supplier to master the three solutions most in demand by major European energy distributors.
With this acquisition, the Sagemcom strengthens its subsidiary Sagemcom Energy & Telecomat a time when the energy management market is booming. This operation is in line with the Group's international development strategy, reinforcing organic growth through targeted acquisitions to round out its offering and gain access to new markets.