Latvia’s leading access and control system developer SIA “BISS” acquires new owner SIA Echoo Group “| Press releases

June 16, 2022

The information was prepared by Ēriks Melbārdis, Associate Director.

In the Latvian information technology sector, a transaction has taken place, as part of which the electrical network and building management system engineering company SIA “Echoo Group” has expanded its operations by acquiring shares in the Latvian automation system manufacturing company SIA “BISS”.

As a result of the transaction, SIA “Echoo Group’s” competence in building automation and engineering systems will be successfully supplemented by SIA “BISS” long-term experience in the development and production of automation systems, thus providing innovative solutions to the growing demand for modern living space safer and more comfortable.

“The expansion is part of Echoo Group’s growth strategy and plans to become the leading manufacturer of building and urban automation systems in the Baltics. Our long-term plans include expanding into new directions, including the development of smart city infrastructure, parking management and other data processing solutions. integration plan, as well as work on the development and introduction of new products and services in the market, “notes Gleb Kiselov and Annie Eisenarma, owners of Echoo Group.

Isils Blūmenaus, the founder of SIA “BISS”: “Thanks to the buyer attracted by Prudentia, the company I have established and cherished for years will continue to develop together with the new owner of the company, and I will be able to get rid of administrative issues.”

“I am really pleased to implement the succession plan of the company’s founder. Prudentia’s goal was to attract a buyer to the company who will appreciate its accumulated experience and developed products. Erik Melbārdis, Associate Director of Prudentia.

About the company

SIA “BISS” is a market leader with more than 25 years of experience, better known to the public under the brand FidPark and dAccess, which provides parking management system services, access control system, billing system with compliance with Cabinet Regulation No. 96, as well as in the design, installation and maintenance of video surveillance solutions. SIA “BISS” clients include such companies as Riga International Airport, Latvenergo, Gaso, Rīgas Satiksme, RIMI Olympic Sports Center, Europark, Cityparks and other Latvian private and public sector companies.

About the buyer

With more than 150 completed projects in Europe, Echoo Group is a leader in the design and construction of engineering networks, providing a wide range of services. Echoo Group develops solutions for engineering networks, smart homes and building management systems for various types of buildings. During 2021, SIA “Echoo Group” has shown more than 50% growth in terms of annual turnover, implemented projects and number of employees.

Additional information:

Erik Melbardis

Associate Director

AS “Prudence”

Mob.: 28950956

E-pasts: [email protected]

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