Aclara signs agreement to acquire GE Grid Solutions' electricity meters business
Aclara Technologies announced that its affiliate has signed a definitive agreement to acquire the electricity meters business currently operating within GE Energy Management's Grid Solutions subdivision.
ST. LOUIS, MO, Nov. 9, 2015 -- Today, Aclara Technologies LLC, a global supplier of smart infrastructure technologies to electric, water and gas utilities, announced that its affiliate has signed a definitive agreement to acquire the electricity meters business currently operating within GE Energy Management's Grid Solutions subdivision (GE Meters).
The transaction is expected to close by the end of the year subject to standard conditions, regulatory approvals, consultation processes with employees as applicable, and completion of business processes satisfactory to both parties. Terms of the transaction were not disclosed.
"The combination of Aclara's industry leadership in advanced metering infrastructure (AMI) technology with GE Meters' 130 years of operating experience, technology development and commercial expertise will enable us to accelerate development and delivery of advanced smart infrastructure solutions," said Allan Connolly, CEO and President of Aclara.
Aclara will acquire more than 300 employees along with GE Meters' global headquarters in Somersworth, N.H., a satellite manufacturing facility in Chicago, Ill., and a center of excellence in Bilbao, Spain, focused on the rapidly growing international regions in addition to a significant intellectual property portfolio of active patents and patent applications, ensuring a seamless transition for GE Meters' customers.
"[GE Meters'] expertise will support Aclara's focus on addressing key technology trends including AMI integration, cybersecurity and standards, design for cost, and field upgradability -- all of which are important aspects of a smart infrastructure environment," said Brian Urbanek, Managing Director of Sun Capital and member of Aclara Board of Managers.
Smart infrastructure solutions magnify the benefits of networks that perform automated metering reading by incorporating a range of sensors, communications and analytic technologies that let utilities monitor their distribution networks, optimize operations, respond to issues quickly, and preempt problems.
Aclara Technologies LLC is a world-class supplier of smart infrastructure technologies to water, gas, and electric utilities globally. Over 700 utilities in nine countries rely on proven Aclara solutions to connect with their customers. Aclara is owned by Sun Capital Partners. For more information, visit www.Aclara.com.