In a move that will give it added strength in the software side of the smart grid, Siemens Industry Inc., said it has signed an agreement to acquire all of the stock of eMeter Corp., San Mateo, Calif., a provider of information-management systems to handle the data generated by smart meters.
The parties expect to close the deal in December 2011, subject to approvals and closing conditions. They are not disclosing financial details of the agreement.
eMeter will be part of the Smart Grid Division of the Siemens Infrastructure & Cities Sector, which is housed within Siemens Industry, Inc. in the United States. eMeter will become a global business segment and center of competence for meter data management (MDM), and will continue to operate from its San Mateo headquarters as part of the Smart Grid Division. eMeter employees will be integrated into the Siemens business structure. With the completion of this purchase, Siemens is making a strong commitment to strengthening its position in the smart grid market.
eMeter’s EnergyIP platform, which boasts a number of large-scale deployments, enables electric, gas and water utilities to realize the full benefits of a smarter grid. Utilities worldwide use eMeter software to reduce operational costs, improve customer service and drive energy efficiency.
The addition of eMeter is expected to enhance Siemens’ position and complement Siemens’ technology portfolio and integrated smart grid solutions offering. eMeter has partnerships with IBM and SAP as well as an existing relationship with Siemens.
“The acquisition of eMeter will allow Siemens to expand its reach globally in the energy information and meter data management space,” said Jan Mrosik, CEO of the Smart Grid Division of the Siemens Infrastructure & Cities Sector. “Ever-increasing demand for solutions to improve the effectiveness of the smart grid for cities and utilities makes this acquisition even more important. eMeter is renowned for its superior software and services capabilities that enable electric, gas and water utilities to realize the full benefits of the smart grid. A combined portfolio of Siemens’ products and solutions and eMeter’s software represents a unique and complementary offering to our customers.”
“Siemens’ global reach and innovative products and services coupled with eMeter’s renowned EnergyIP platform, supports an aggressive growth strategy and further penetration into the smart grid market,” said Gary Bloom, CEO and president of eMeter. “I am confident Siemens will provide eMeter with the level of investment required in people, technology and operations to significantly strengthen our position in the market.”