Siemens Industry, Inc. will buy eMeter Corporation this month, subject to necessary approvals and customary closing conditions. The parties will not disclose the terms of the agreement.
eMeter will join the Smart Grid Division of the Siemens Infrastructure & Cities Sector, part of Siemens Industry, Inc. in the United States. eMeter will become a global business segment focused on Meter Data Management (MDM), and will continue to operate from its San Mateo headquarters.
With the completion of this purchase, Siemens is making a strong commitment to delivering on its aim to strengthen its position in the Smart Grid market.
“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 known for its software and services capabilities that enable electric, gas and water utilities to realise the full benefits of the Smart Grid,” Mrosik concluded.