ESCO Buys a Smart Grid Solutions Provider
Jan 08, 2013 (Close-Up Media via COMTEX) --
ESCO Technologies Inc. announced that it has acquired the assets of Metrum Technologies, a smart grid solutions provider based in Waco, Texas.
The Company presorted that the transaction also includes Metrum's research and development center located in Dallas. Metrum will become part of Aclara Technologies, a member of ESCO's Utility Solutions Group. Terms were not disclosed.
Metrum is a provider of wireless public network communications products for electric utility customers, and also provides hosted software systems and network operation center services in support of its products. Metrum's patented high-bandwidth, secure and internet-protocol (IP) based advanced metering products have been deployed by over 350 utilities throughout the United States.
Vic Richey, ESCO Chairman and Chief Executive Officer, said, "Metrum not only significantly enhances our smart grid communications product offerings, but also allows us to broaden our industry-specific AMI expertise to better serve our utility customers."
"Aclara has an outstanding reputation for providing exceptional smart grid solutions to all three utility segments," said Steve Swenke, Chief Executive Officer of Metrum. "I believe the combination of Metrum's and Aclara's technology platforms will enable a best-in-class offering of cellular, RF and powerline communications technologies for our utility customers."
ESCO is a supplier of special purpose utility solutions for electric, gas and water utilities, including hardware and software to support advanced metering applications and fully automated intelligent instrumentation.
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