EQS-Adhoc

Landis+Gyr Strengthens Smart Metering Core through Agreement on Acquisition of Luna

EQS Group-Ad-hoc: Landis+Gyr Group AG / Key word(s): Acquisition Landis+Gyr Strengthens Smart Metering Core through Agreement on Acquisition of Luna 28-Sep-2021 / 06:55 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. The planned acquisition of the Turkish meter provider Luna further solidifies Landis+Gyr's position in Smart Electricity and Water Metering.

Cham, Switzerland - September 28^th, 2021 - Landis+Gyr Group AG (SIX: LAND), a leading provider of integrated energy management solutions, today announced its subsidiary Landis+Gyr AG has entered into a binding agreement to acquire 100% of the shares of Luna Elektrik Elektronik Sanayi ve Ticaret A.Ş., a provider of smart metering devices for electricity, water and heat and associated software solutions, with headquarters in Izmir, Turkey, for a high double digit million US Dollar purchase price. The transaction is expected to close by the end of the calendar year 2021 with closing being subject to customary governmental approvals and other customary closing conditions.

'The acquisition of Luna offers a unique opportunity for Landis+Gyr, as it allows us to expand our core capabilities in smart metering while increasing our offering of cost-competitive solutions with well-established manufacturing capabilities in Izmir,' said Werner Lieberherr, Chief Executive Officer of Landis+Gyr. 'Luna's range of devices and software complements our portfolio and thus will allow us to expand our reach and serve our customers even better.'

Luna is the leading meter provider in Turkey and has established a strong position in engineering, certification, and manufacturing of metering solutions. With revenues of around USD 60 million and more than 850 employees, the acquisition of Luna will allow Landis+Gyr to acquire a meaningful share of the Turkish market, where the transition to Advanced Metering Infrastructure (AMI) has yet to commence, and utilize Luna's vertically integrated manufacturing to drive sales in adjacent markets. Currently, Luna exports products to numerous countries in Africa, Asia, Europe and South America. Next to low-cost solutions for markets, where Landis+Gyr currently has a limited presence, Luna also offers electricity meters for Germany, where it has established a foreign sales entity.