| Smart meter specialist Landis+Gyr
has completed its first acquisition since it was purchased by
technology giant Toshiba, shelling out an undisclosed sum for
US-based meter data management software firm Ecologic Analytics.
Landis+Gyr
has held a stake in the Minnesota-based firm since 2007 and
the two companies have worked closely since then on integrating
Ecologic's software with the Swiss company's smart meter devices.
The deal, which emulate's engineering giant Siemens' acquisition
last month of smart meter software provider eMeter, gives
Landis+Gyr ownership of 100 per cent of Ecologic's stock and
paves the way for still tighter integration between the two
companies' technologies.
"The strategic rationale for acquiring the remaining ownership
of Ecologic Analytics is predicated on ensuring that Landis+Gyr
has the capability to offer global utilities the software
and meter data management products that they need to complete
their smart grid offerings," said Andreas Umbach, president
and chief executive of Landis+Gyr in a statement.
"This investment demonstrates our commitment, and that of
our parent company Toshiba, to complementing our product portfolio
for the long-term when appropriate opportunities arise."
The deal is the latest in a series of acquisitions in the
smart grid sector as leading technology firms such as Toshiba,
Siemens and GE seek to position themselves in a market that
is expected to grow rapidly as governments around the world
start to mandate the rollout of smart meter technologies.
For example, Toshiba shelled
out $2.3bn to acquire Landis+Gyr last summer and pledged
to put the subsidiary at the heart of an 'end-to-end'
package of smart grid technologies designed to help utilities
enhance their energy efficiency and better manage the emergence
of new clean technologies such as electric vehicles and renewable
energy systems.
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