Raleigh, NC, U.S.A. and Luxembourg --- (METERING.COM) --- September 4, 2009 - Elster Group has announced the acquisition of smart metering and smart grid solution provider EnergyICT NV from its management.
The acquisition is in line with Elster’s strategy to continuously invest in leading world-class technology, the company said in a statement.
EnergyICT is headquartered in Courtrai, Belgium, and has sales offices across Europe, the U.S.A. and Australia.
Elster said its acquisition of EnergyICT will further strengthen its advanced metering infrastructure (AMI) and smart grid portfolio, and broadens its expertise in the systems and services markets. The acquisition provides Elster with a world-proven head-end and Meter Data Management system (MDM), and also provides additional experienced resources in consumer energy management, software design and test processes, and interoperable solutions.
Since its foundation in 1991, EnergyICT has built up an impressive product portfolio that caters to all aspects of the international energy sectors. EnergyICT also has gained invaluable experience through years of world-class business practice and industry knowledge, which will augment Elster's experience base. The acquisition will further strengthen the market position of Elster Group and ensures continuous enhancement of the existing energy solutions in close cooperation with current and future customers.
EnergyICT will continue to serve utilities and other metering, AMI and smart grid providers directly with its market leading products and flexible solutions. Elster will continue to partner with the breadth of MDM, systems and service providers in the market to meet its customers’ needs.
The completion of the transaction is subject to merger control clearance in some European countries.