Siemens makes US acquisition in smart grid sector
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 power supply 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, Siemens 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.
(c) 2011 AFP
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