Smart metering firm buys US entity

Deal to enhance Cedrus’
competitive edge

Cedrus Enterprises Holding, a local company owned by entrepreneur, Ghaith Madi, announced on Monday that it had acquired in partnership with Austrian S&T AG, the US-based Network Energy Services (NES), a newly established company.

NES is the company established to buy US-based Echelon Smart Grid Operations. NES’ scope of work includes development, manufacturing and sales of products for delivery, measurement, monitoring and control of electric power through the electric grid, the transport of data, and load management devices used to control the electric grid.

Cedrus Enterprises Holding has also purchased the exclusive right of sales and distribution of all NES smart grid modernization business products and services in the MENA region and the Indian sub-continent.

Cedrus Enterprises Holding believes that this investment will strategically enhance its competitiveness. The company will capitalize on existing demand in the MENA region, especially in the Levant, the Arab Gulf and India.