Siemens makes US acquisition in smart grid sector

Dec 05, 2011
The logo of German industrial giant Siemens is seen in October 2011 in Berlin. Siemens said Monday it has agreed to buy eMeter, a US-based data management specialist, in a bid to enhance its position in the field of so-called smart grids.

German engineering giant Siemens said Monday it has agreed to buy eMeter, a US-based data management specialist, in a bid to enhance its position in the field of so-called smart grids.

Both parties had agreed not to disclose the purchase price and expected to close the deal in "mid-to-late December," Siemens said in a statement.

Given ever-increasing demand for more efficient networks, the acquisition of eMeter -- one of the leading providers of meter data management software worldwide -- was an "important" one, said the head of Siemens' smart grid division, Jan Mrosik.

Siemens said it has worked together with eMeter as a strategic partner since 2008.

In October, pooled its business of intelligent power supply networks into a new smart grid division, which supplies power providers and network operators, businesses and cities with products and solutions for intelligent and flexible network infrastructures.

Explore further: NREL report estimates market potential of shared solar, discusses relevant securities regulations

Related Stories

Smart software for self-regulating smart grid

May 24, 2011

Siemens and the utility company Allgauer Uberlandwerk (AUW) in the city of Kempten, Germany, are testing the smart grids of the future. The tests focus on optimized power distribution and the use of a self-organizing ...

Siemens to revamp IT unit, cut 4,200 jobs

Mar 18, 2010

German industrial giant Siemens announced on Thursday a broad restructuring of its SIS information technology division that includes the elimination of 4,200 jobs worldwide.

Recommended for you

INL and NREL demonstrate power grid simulation at a distance

13 hours ago

The Energy Department's National Renewable Energy Laboratory (NREL) and Idaho National Laboratory (INL) have successfully demonstrated the capability to connect grid simulations at their two labs for real time interaction ...

The downside of biodiesel fuel

19 hours ago

The oil industry believes biodiesel is not to blame for problems that Norwegian car owners are experiencing. But the nature of the fuel means that it has to be handled differently than regular petroleum-based ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.