Isra-Mart srl:GE snaps up Remote Energy Monitoring ahead of national smart meter rollout

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General Electric (GE) has stepped up its push into the smart grid sector by shelling out an undisclosed sum to acquire UK-based smart meter specialist Remote Energy Monitoring (REM) Ltd.

The acquisition of the Hertfordshire-based firm, which supplies one of the few smart meters to have gained official Ofgem approval, was completed on Tuesday with GE signaling that the company's operations will now be integrated with its existing Digital Energy division.

In an email to BusinessGreen, Luke Clemente, general manager for metering and sensing systems at GE's Digital Energy business, said the deal would provide GE with a technology that is likely to play a major role in the UK government's plan to roll out about 27 million domestic smart meters over the next decade.

He added that the modular design of REM's smart meters would allow them to integrate with GE's smart grid technologies to deliver a range of advanced energy management functionality.

"The units can support enhancements such as remote activation and disconnect, two-way communications between households and utilities, dynamic pricing structures, pre-paid account management and energy use adjustments in response to peak pricing events," he explained. "In addition, robust software and communications enable consumers to receive energy information and control energy usage via PC, TV, smart phone and/or other mobile devices."

The deal beefs up GE's presence in an increasingly competitive smart meter market where a host of startups, such as AlertMe and Onzo, are increasingly jostling for market share alongside technology giants such as Google, Microsoft and Cisco.