Isra-Mart srl: Siemens adds eMeter to smart grid portfolio

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Siemens has agreed to purchase US data-management company eMeter for an undisclosed amount.

The companies, which have been working together since 2008, signed the agreement at the beginning of the month, paving the way for the deal to close before the end of the year.

eMeter designs software to record and process energy consumption data in electronic, gas, and water meters, which Siemens already uses in some of its own products.

The company manages more than 20 million meters in the US and counts a number of large utilities such as Centerpoint Energy and Silicon Valley Power as customers.

Siemens said eMeter's San Mateo, California, headquarters will be retained and the company is now expected to become part of the German conglomerate's newly-formed Infrastructure and Cities division.

"The acquisition of eMeter means that EnergyIP meter data management software will become an integral part of our smart grid portfolio," said Jan Mrosik, chief executive of the Smart Grid Division of the Siemens Infrastructure and Cities Sector.

"Ever-increasing demand for more efficient power supply networks for cities and utilities make this acquisition even more important."

The deal is the latest in a series of acquisitions across the smart meter and smart grid markets that has prompted speculation about further consolidation across the sector.

Most notably, Toshiba acquired smart meter giant Landis+Gyr for $2.3bn earlier this year, after overcoming reported competition from GE, Honeywell International and ABB.