San Mateo, Calif., December 5, 2011 — Siemens expands its smart grid portfolio with the acquisition of eMeter, a U.S. meter data management specialist based in San Mateo, California. An agreement was signed at the beginning of December.
With its EnergyIP platform, eMeter is a provider of meter data management software worldwide used in the recording and processing of energy consumption data in electronic, gas and water meters. Both parties have agreed not to disclose the purchase price and expect to close the deal in mid-to-late December 2011.
"The acquisition of eMeter means that EnergyIP meter data management software will become an integral part of our smart grid portfolio. Ever-increasing demand for more efficient power supply networks for cities and utilities make this acquisition even more important," said Jan Mrosik, CEO of the Smart Grid Division of the Siemens Infrastructure and Cities Sector.
Siemens has been working together with eMeter as a strategic partner since 2008. In numerous projects Siemens used its international sales structure and implemented EnergyIP, the meter data management software, as the core component of its complete smart metering solutions. This software can efficiently readout, manage and provide the increasing quantities of data from smart meters in the power supply network.
"Siemens' global reach and products and services coupled with eMeter's renowned Energy Information Platform, supports a strong growth strategy and further penetration into the smart grid market," said Gary Bloom, CEO and president of eMeter.
On October 1 of this year, Siemens pooled its business of intelligent power supply networks into the Smart Grid Division of the newly-formed Infrastructure & Cities Sector.
The Smart Grid Division supplies power providers and network operators, industrial enterprises, infrastructure elements and cities with products and solutions for intelligent and flexible network infrastructures.