Effective as of January 1st, 2015, the agreement entitles DIAS the rights to distribute ELDES products for security market in the territory of Italy, through its nationwide network of local distributors. Vilnius, Lithuania – February 11th, 2015 – ELDES (Lithuania), the developer and manufacturer of smart home security and automation systems, announced it has extended its distribution channel through a new a strategic partnership agreement with company DIAS, a leading distributor of products and systems for security dealers in Italy.
“ELDES has achieved a significant growth acceleration in Italian market with the company’s revenues more than tripled over the past 3 years. We believe that our partnership with DIAS will create conducive conditions to maintain such rapid pace of market penetration. DIAS is well recognized for its trade conditions tailored to the needs of companies distributing products and security systems across Italy. Technical training courses, after-sale support, fast and accurate order fulfillment, extended warranty with the possibility of advance replacement will provide the value added to ELDES products enabling us to offer a total solution for the most demanding customer.”- said Rolandas Dranseika, ELDES CEO.
DIAS confirmed the beginning of partnership. “We are very glad and excited to begin this new business relationship with ELDES, for the distribution of its products in the Italian market. We have a lot of expectations from our agreement and we are confident ELDES products will soon become popular in our market thanks to their complete range of products, their tailored solutions, stylish design and user friendly approach to users in both residential and commercial applications.”- said Carlo Hruby, DIAS CEO.
ELDES is a developer and manufacturer of smart home security and automation systems, founded in 2005, currently exporting its products to more than 80 worldwide markets. ELDES focuses on creating smart and easy to use residential security and automation solutions. Company’s growing potential was recognized by LitCapital growth fund. ELDES and LitCapital signed an investment agreement in April of 2014. LitCapital is EUR 25 million growth capital fund established in cooperation with European Investment Fund (EIF) in 2010 under the JEREMIE initiative. LitCapital invests into the expansion of private SMEs in Lithuania. The fund is aimed at long term investments in the capital of private enterprises seeking faster business growth and expansion. Investment size varies between EUR 1-3 M and investment horizon is between 3 and 6 years.
DIAS was founded in 1990 has an acclaimed track record of over 25 years in the industry, supplying a careful selection of the best available technologies combined with the constant pursuit of excellence and the quality of their value added distribution service.