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Landis+Gyr Acquires Remaining Stake in Ecologic AnalyticsZUG, Switzerland and BLOOMINGTON, Minn., Jan. 10, 2012 /PRNewswire via COMTEX/ -- Landis+Gyr, the leading global provider of integrated energy management products, today announced that it has completed the transfer of ownership for all of the remaining stock of Ecologic Analytics, bringing Landis+Gyr's ownership to 100%. The terms of the transaction will not be disclosed. Ecologic Analytics is a global leader in meter data management (MDM) software, which transforms advanced metering infrastructure data into accurate, timely and actionable information for electric, natural gas and water utilities. The company is the most experienced MDM provider in North America, with more endpoints in service and more meter reads handled annually than anyone in the industry. "The strategic rationale for acquiring the remaining ownership of Ecologic Analytics is predicated on ensuring that Landis+Gyr has the capability to offer global utilities the software and meter data management products that they need to complete their smart grid offerings," said Andreas Umbach, President and CEO of Landis+Gyr, "This investment demonstrates our commitment, and that of our parent company Toshiba, to complementing our product portfolio for the long-term when appropriate opportunities arise." Ecologic Analytics has a flexible business model, working with utilities, and if opted for, system integrators to implement software solutions. Ecologic Analytics will continue its operations from Bloomington, MN and the company's President, Craig Norman, will report to Richard Mora, Landis+Gyr's President and CEO for The Americas. "Now a fully consolidated part of the Landis+Gyr family, our employees, partners and customers will benefit from the strong strategic and financial support of Landis+Gyr of course," Craig Norman commented, "And with the complete continuity of our operations we look forward to meeting accelerated global growth opportunities without missing a beat." About Landis+Gyr Landis+Gyr is the leading global provider of integrated energy management products tailored to energy company needs and unique in its ability to deliver true end-to-end advanced metering solutions. Today, the Company offers the broadest portfolio of products and services in the electricity metering industry, and is paving the way for the next generation of smart grid. With annualized sales of more than US$1.5 billion, Landis+Gyr, a standalone growth platform of the Toshiba Corporation (TKY:6502) and 40% owned by the Innovation Network Corporation of Japan, operates in 30 countries across five continents, and employs 5,000 people with the sole mission of helping the world manage energy better. More information is available at landisgyr.com. About Ecologic Analytics Founded in 2000, Ecologic Analytics, LLC is a leading provider of meter data management systems (MDMS) for electric, natural gas and water utilities. The Ecologic MDMS continuously validates more than 500-million meter reads every day for Smart Grid leading utilities, transforming the data consumed from advanced metering infrastructure (AMI)/smart meter endpoints into accurate, timely and actionable information for decision making across the utility. The Ecologic MDMS is a flexible, configurable and highly scalable enterprise software solution that receives data from any AMI/AMR system and/or manual source, supporting the dynamic operational and business processes needed for Smart Grid initiatives. SOURCE Landis+Gyr |