BRONSCHHOFEN, SWITZERLAND -- Cicor Group has agreed to acquire EDMI Electronics, the Malaysian manufacturing subsidiary of Singapore-based smart metering provider EDMI, as part of a long-term strategic manufacturing partnership expected to generate more than $50 million in annual revenue.

The transaction, valued at approximately $15 million to $20 million, remains subject to due diligence, regulatory approvals and customary closing conditions, with completion expected in the fourth quarter. Under the agreement, Cicor will become the primary global manufacturing partner for most of EDMI's smart electricity meters, while EDMI will retain responsibility for product design, development, quality standards and customer support.

Following the acquisition, the Johor facility will serve as Cicor's APAC center of excellence for final industrial product assembly, while PCB assemblies will be produced at the company's existing facilities in Vietnam and China. Cicor expects the partnership to contribute mid-double-digit millions of Swiss francs in annual revenue beginning in 2027, with additional value expected from expanded in-house PCBA production.