Siemens makes US acquisition in smart grid sector

German engineering giant Siemens said Monday it has agreed to buy eMeter, a US-based data management specialist
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.


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(c) 2011 AFP

Citation: Siemens makes US acquisition in smart grid sector (2011, December 5) retrieved 18 April 2021 from https://phys.org/news/2011-12-siemens-acquisition-smart-grid-sector.html
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