In $20 M deal, Switzerland’s Cicor to purchase Singapore’s EDMI factory in Malaysia
For $15–20 million, the contract electronics maker Cicor Group (SIX: CICN) of Switzerland will purchase EDMI Electronics Sdn. Bhd. in Johor, Malaysia. EDMI Electronics Sdn. Bhd. is a manufacturing subsidiary of the Singapore-based smart metering business EDMI Limited.
Together with a long-term contract manufacturing deal that would raise Cicor’s yearly revenue above $50 million, Cicor said in a statement on Tuesday that the acquisition is subject to closing adjustments.
The majority of EDMI’s smart meters will be manufactured by Cicor as part of the agreement. EDMI is still in charge of customer service, quality standards, product development, and design.
With PCB assemblies being produced in Cicor’s current locations in Ho Chi Minh City, Vietnam, and Dongguan, China, the Johor facility will become the company’s center of competence for the final assembly of industrial goods for the Asia-Pacific market.
Through its subsidiary Cicor Maroc, which was purchased in 2025 as part of a deal with Éolane France, Cicor has been a manufacturing partner of EDMI for smart electricity meters. In addition to reflecting EDMI’s intention to switch from internal manufacturing to an outsourcing model, the new agreement formalizes a larger strategic partnership.
With Cicor providing manufacturing assistance, the arrangement enables EDMI to focus on developing intelligent metering technologies and grid solutions, according to Roy Kirsopp, Group CEO of EDMI.
The collaboration is an example of how original equipment manufacturers may attain sustained advantages by outsourcing manufacturing to Cicor while generating value-accretive business for Cicor, according to Alexander Hagemann, Group CEO of Cicor.
