Elster Group Acquires EnergyICT NV - One of the Top Three Global Market Leaders


Raleigh, NC/Luxembourg, September 2, 2009 - Elster Group, a technology and innovation driven world leader in smart metering and SmartGrid systems and solutions, is pleased to announce the acquisition of EnergyICT NV from its management. The acquisition is in line with Elster's strategy to continuously invest in leading world-class technology. Elster draws on its extensive experience in the sector and a range of innovative products and systems that reflect a wealth of knowledge gained from nearly two centuries of dedication to the gas, electricity and water industries.

EnergyICT is a global leader in providing smart metering and smart grid solutions, headquartered in Courtrai, Belgium with sales offices across Europe, the USA and Australia.

Elster's acquisition of EnergyICT will further strengthen its Advanced Metering Infrastructure (AMI) and SmartGrid portfolio, and broadens its expertise in the systems and services markets. The EnergyICT acquisition provides Elster with a world-proven head-end and Meter Data Management System (MDM) to complement its market-leading position in multi-utility solutions to customers across the globe. It also provides additional experienced resources in consumer energy management, software design and test processes, and interoperable solutions.

EnergyICT is a market leader in its field, designing and offering highly advanced Energy Information and Communication Technology solutions and services to utilities, energy suppliers, and end customers.

Since its foundation in 1991, EnergyICT has built up an impressive product portfolio that caters to all aspects of the international energy sectors. Like Elster, EnergyICT works closely with its customers to understand their business and meet their expectations. EnergyICT 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.

Elster and EnergyICT share and embrace the philosophy of open standards and interoperability. EnergyICT will continue to serve utilities and other metering, AMI and SmartGrid 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.

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