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Wednesday, Feb 19th

Germany's Mobisol acquires East Africa-based Lumeter

Germany's Mobisol acquires East Africa-based Lumeter

Germany's Mobisol has announced its acquisition of East Africa-based off-grid pay-as-you-go software company Lumeter.

In its announcement Mobisol says the acquisition creates an unrivaled player with strong pricing power, expertise in the metering sector for stand-alone solar systems and mini-grid solutions.

The deal also increases the number of people supported by the Mobisol platform globally to more than 500,000.

Stefan Zelazny, Chief Innovation Officer at Mobisol emphasised the bigger opportunity to deliver pay-as-you-go functionalities for large productive use systems to underserved areas of Africa.

"While pay-as-you-go software pioneers like Lumeter and Angaza Design have very successfully paved the way to meet consumer needs, we will now be able to take this approach to a new level, offering opportunities to manufacturers and distributors on a larger scale. We are able to provide a hardware agnostic software suite that makes major consumer and commercial implementations possible. We see the Lumeter acquisition as a key step in our plan to expand the pay-as-you-go market for Mobisol, its off-grid partners and other technologies beyond solar."

Mobisol opened its flagship store in the town of Kisumu in Kenay nearly three months ago. The company is also in partnership with mobile network operator MTN in Rwanda through which consumers can opt to purchase a device with the Mobisol solar home system.

Mobisol has revealed that its electricity capacity for use by rural families and business owners in Tanzania, Rwanda and Kenya now totals almost 10 megawatts.

Mitra Ardron, founder of Lumeter, said, "I am glad to see Lumeter's technology developed further with Mobisol. By bringing together the customer's, hardware, and backend solutions of the two leading companies in PAYG will bring advantages to all of our partners."

Mobisol added that it is now in a position to offer the most complete solution, including hardware, software and operational expertise, for off-grid solar pay-as-you-go power for large consumer uses as well as commercial systems (up to 600Wp).

It adds that the acquisition achieves short-term cost savings as well other long-term strategic opportunities for growth and new revenue opportunities.

While the value of the acquisition of Lumeter has not been disclosed, the deal comes only six months after Mobisol itself received investment from the International Finance Group (IFC) a member of the World Bank Group, and FMO, the Dutch development bank to deliver renewable energy solutions to off-grid communities in East Africa.

IFC's equity investment of EUR 5.42 million in that agreement and the EUR 9.2 million from the AEF and MASSIF Dutch government funds managed by FMO brought the two into partnership with Investec Asset Management's African Private Equity Fund and DEG, which are already invested in Mobisol.

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