Vitec Software Group has acquired Infometric for an undisclosed amount. Infometric specializes in energy measurement systems, developing, selling, and maintaining its own hardware and software. Their systems measure, collect, and report consumption of electricity, hot and cold water, heat, and temperatures, primarily in apartments. The company utilizes various technologies, including radio, power grid, or wire communications, to ensure effectiveness and adaptability across different property types. Infometric's business is focused on Sweden, serving utility companies, property owners, construction companies, and building societies.
This acquisition comes as increased energy awareness and rising energy costs drive new requirements for metering and billing of energy consumption. Property owners are increasingly seeking accurate measurement and remittance for individual consumption, alongside tools to continuously monitor the impact of energy conservation measures. Infometric's comprehensive system, which validates collected data, handles support, and presents information on web platforms or exchanges it with other systems, directly addresses these evolving market demands.
For Vitec Software Group, this strategic acquisition expands its presence and expertise within the property technology and utility sectors. Infometric's established market position in Sweden and its specialized solutions for energy data collection and analysis are expected to complement Vitec's existing software portfolio. The integration aims to leverage Infometric's deep domain knowledge and proprietary technology to enhance Vitec's offerings in energy management.
The combined entity is positioned to deliver more robust and integrated solutions for energy efficiency and consumption monitoring. This strategic alignment is anticipated to provide customers with advanced tools to manage energy costs, contribute to environmental sustainability, and meet the growing regulatory and market demands for precise energy data.