Raleigh, NC, U.S.A. and Montpellier, France --- (METERING.COM) --- June 25, 2007 – Elster Group, a supplier of high quality integrated metering and utilization solutions, has acquired Coronis Systems, designer and developer of ultra-low-power long-range wireless solutions and platforms for OEMs and integrators, from its management and a group of venture capital shareholders led by Banexi and Axa Private Equity.
Jim McGivern, Elster Group's CEO, says: "Elster sees the acquisition of Coronis Systems as an additional offering to Elster's established position as the global market leader in multi-utility metering solutions. Coronis Systems has an excellent radio frequency-based AMI (advanced meter infrastructure) technology that is especially strong in water and gas utility networks. The Wavenis technology augments Elster Integrated Solutions' (EIS) existing EnergyAxis® AMI solutions and strengthens Elster's position in the global smart metering market. Elster continues to embrace a broad range of technologies to meet our customer's needs and to work with partners to provide interoperable and integrated system solutions."
Laurent Maleysson, Coronis Systems' Co-Founder and General Manager, states: "I am proud that Elster Group sees Coronis Systems and its Wavenis® technology as an important addition to its smart metering infrastructure and two-way communications solutions portfolio. Coronis Systems will continue to pursue its strategy in providing technology to utilities, meter manufacturers and the home automation market and now it has the scale to further develop its position."
Coronis Systems designs and develops ultra-low-power long-range wireless solutions and platforms for value-added resellers (VARs), original equipment manufacturers (OEMs), and integrators. Since its inception in 2000, Coronis Systems has become the global leader in ultra-low-power consumption wireless communication technology. With more than 1.2 million devices deployed in small, medium, and large-scale wireless mesh networks around the world, Wavenis technology addresses the specific characteristics and needs of today's smart sensor networks. Wavenis technology is used to build innovative products and applications such as:
- Automated meter management and remote data monitoring
- Home automation, alarm, security, and medical applications
- Industrial automation, telemetry, and traceability applications
- Radio frequency identification (RFID) for personal tagging and track and trace systems.
The Elster Group's acquisition of Coronis Systems strengthens its portfolio of standards-based AMI solutions for utilities. As part of the Elster Group, Coronis Systems will continue to supply and support its current customer base and seek to expand the market and standardization for Wavenis-enabled platforms. Coronis Systems will also reinforce its line of transversal ultra-low-power wireless platforms and solutions, leveraging the Elster Group's leading market position.