According to WirtschaftsBlatt, the Telekom Austria Group has announced that it has created a new subsidiary to oversee its entrance into the lucrative machine-to-machine (M2M) sector. Branded ‘TA Group M2M GmbH’, the new unit will commence business on 1 September, and be operational in all eight countries where Telekom has a wireless presence. Telekom CEO Hannes Ametsreiter has predicted that M2M penetration is set to increase from 145% to 300%-400% percent in the ‘forseeable future’. To meet European Union (EU) requirements, all newly installed electricity and water meters must be fitted with SIM cards by 2022. This will enable the so-called ‘Smart Meters’ to be managed and read remotely. Meanwhile, T-Mobile Austria CEO Robert Chvatal told WirtschaftsBlatt that the M2M sector represents ‘an interesting future market’.