Siemens buys majority stake in utility software company Energy4U

Siemens IT Solutions and Services will acquire a 60 percent stake in Energy4U GmbH to strengthen its smart-grid portfolio for utility companies in smart metering and billing. Based Germany, Energy4U specializes in SAP implementation of information and billing systems for utilities. Energy4U has over 90 employees and is one of Germany’s leading SAP service providers in this market segment. Terms were not disclosed. Siemens’ offerings for utilities range from energy generation, transport and distribution through to metering and billing. Smart grids are part of Siemens’ environmental portfolio, which generated sales of approximately $27 billion in fiscal 2008, about a quarter of total company sales.