Siemens is solidifying its position in the Smart Grid space with its acquisition of eMeter.
eMeter, based in California, has a 30-year history of working with utilities in the US and around the world, providing software for managing information from 2-way meters. The data enables utilties to better manage energy demand and customers can use the information to conserve energy.
It manages more than 20 million meters in the US – being part of Siemens will help it expand into European and UK markets.
Siemens says eMeter’s EnergyIP software platform played an important role in the acquisition decision, along with its strategic partnerships with IBM, SAP and other companies.
eMeter, which is led by Gary Bloom, previously an Oracle executive, has raised $68.8 million in six rounds of institutional funding.
In October, Siemens created a Smart Grid division in its Infrastructure & Cities Sector, which has 87,000 employees.
"The world economy is undergoing a "paradigm shift" toward sustainability and green technologies, Siemens President and CEO Peter Loscher told the U.S. Chamber of Commerce in 2009.
"Growth and jobs in the future will increasingly come from these technologies," he added. "More industrialization and more growth will arise from the current crisis. And the color of this industrialization will be green."
The same can be said two years later as Siemens continues to reorder its business strategy for the long term.