Echoo Group acquires Information technology company BISS

A transaction has taken place in the Latvian information technology industry, within the framework of which the  engineering and building management systems solutions company SIA "Echoo Group" has expanded its operations by acquiring capital shares in the Latvian automation systems production company SIA "BISS".

As a result of the transaction, the competence of SIA "Echoo Group" in building automation and engineering systems will be complemented by the experience of SIA "BISS" in the development and production of automation systems, thus providing innovative solutions for the growing demand for modern living space.

"Expansion is part of Echoo Group's growth strategy and intention to become the leading manufacturer of building and city automation systems in the Baltics. Our long-term plans include expanding our operations in new directions, including developing smart city infrastructure, parking management and other data processing solutions. Currently, the integration plan of the companies is being implemented, as well as the work on the development and introduction of new products and services in the market" note Echoo Group owners Glebs Kiselovs and Annija Eizenarma.

"As a result of the merger of the two businesses, opportunities for achieving new and ambitious goals are opened both in the domestic market and in the export markets," notes Prudentia's associate director Eriks Melbardis.

SIA "BISS" is known to the wider public under the brands FidPark and dAccess, which provides services of parking management systems, access control system, payment system in compliance with MK regulations no. 96, as well as in designing, installing and servicing video surveillance solutions. The clients of SIA "BISS" 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.


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