Siemens Industry Inc. (SI) announced that it has signed an agreement to acquire all of the stock of eMeter Corporation, headquartered in San Mateo, California.
The parties expect to close the deal in December 2011, subject to necessary approvals and customary closing conditions. The parties will not disclose the terms of the agreement.
eMeter will be part of the Smart Grid Division of the Siemens Infrastructure & Cities Sector.
eMeter will become a global business segment and center of competence for Meter Data Management, and will continue to operate from its San Mateo headquarters as part of the Smart Grid Division. eMeter employees will be integrated into the Siemens business structure, the company said.
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