Aclara Completes Acquisition of GE Grid Solutions' Electricity Meters Business
Expanded Organization Will Accelerate Development and Delivery of Advanced Smart Infrastructure Solutions
ST. LOUIS –Â Aclara Technologies LLC ("Aclara"), a world-class supplier of smart infrastructure technologies to electric, water and gas utilities globally, announced today that the acquisition of the electricity meters business currently operating within GE Energy Management's Grid Solutions subdivision ("GE Meters") has been completed. Terms of the transaction were not disclosed.
The acquisition includes GE Meters' global headquarters in Somersworth, New Hampshire, as well as facilities in Chicago, Illinois and Bilbao, Spain. It also includes more than 300 employees in these locations as well as other employees located in North and South America, Asia and United Kingdom. As part of the transaction, Aclara has also acquired a significant intellectual property portfolio of active patents and patent applications, ensuring a seamless transition for GE Meters' customers.
GE Meters serves global customers with a range of residential, commercial and industrial meter technology.
"The acquisition of GE Meters has been completed smoothly and according to schedule. We look forward to proceeding with the integration of operations and employees into a dynamic, expanded and highly synergistic organization that combines Aclara's industry leading advanced metering infrastructure (AMI) technology with GE Meters' 130 years of operating experience, technology development and commercial expertise. The combined offering will set a new standard of excellence for our industry," said Allan Connolly, CEO and President of Aclara.
Aclara's goal is to offer electric utilities a comprehensive portfolio of smart infrastructure solutions that provide superior performance and operational efficiencies. 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.
About GE Meters
Headquartered in Somersworth, New Hampshire, GE Energy Management's Grid Solutions electricity meters business serves global customers with a range of residential, commercial and industrial meter technology.
About Aclara
Aclara 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 Technologies LLC is owned by an affiliate of Sun Capital Partners. Visit us at Aclara.com.
SOURCE Aclara Technologies LLC
CONTACT: Jill Mecey, Aclara Technologies LLC, 314.895.8015, jmecey@aclara.com
Web Site: http://Aclara.com Â
