Power and engineering giant Siemens will buy smart meter software company eMeter, the companies announced on Monday. While the companies did not disclose the terms of the deal, this is one of the more high-profile success stories for the smart grid in 2011.
EMeter is a 13-year-old firm that makes software to manage smart meter systems for utilities. This type of software, called meter data management systems (or MDMS), acts as the delivery system between the smart meter and the utility’s back office, and all utilities that are building smart grid networks need this software. EMeter has a long list of utility customers, including Texas-based CenterPoint, Toronto Hydro Electric System, Bluebonnet and Vattenfall in Sweden and Finland, and many others.
Siemens is already an investor in and a longtime partner of eMeter. The German conglomerate led a $12.5 million investment in eMeter in 2008, and the two have been involved in several meter data management projects with European utilities.
Siemens’ approach to the smart grid has been to partner with, invest in and now buy smaller smart grid players. Siemens said back in 2009 that it wants to double its growth rate in the smart grid sector to capture €6 billion ($8.48 billion) in global business over five years, compared to its then €1 billion ($1.41 billion) in estimated smart grid–related revenues for the fiscal year ending Sept. 2009.
But Siemens hasn’t been all that quick to buy companies, and it has instead oftentimes opted for partnerships or investments like it has done with Tendril, Viridity Energy and BPL Global. However, eMeter, which is a successful company with a lot of utility deals, is a solid acquisition and is one of the biggest and first acquisitions that Siemens has made in the smart grid space. Siemens competes with Schneider Electric, ABB, GE and others.
EMeter had raised at least $69 million from venture capitalists Sequoia Capital, Foundation Capital and Northgate Capital. I had long heard that eMeter could be a potential IPO candidate, but the markets haven’t been all that friendly to greentech IPOs in 2011. Here is a list of smart grid acquisitions.
Siemens to buy smart grid software company eMeter http://t.co/spyRxwlu
RT @katiefehren: Siemens to buy smart grid software company eMeter http://t.co/spyRxwlu
RT @katiefehren: Siemens to buy smart grid software company eMeter http://t.co/spyRxwlu
Siemens to buy smart grid software company eMeter: Power and engineering giant Siemens will buy smart m… http://t.co/mn3TeTyE #privacy
Siemens to buy smart grid software company eMeter http://t.co/ZEC1BcoO @amarchugg #news
Siemens to buy smart grid software company eMeter http://t.co/Z2AsIKJS @amarchugg #news
Siemens to buy smart grid software company eMeter: Power and engineering giant Siemens will buy smart meter soft… http://t.co/mTL3jDgb
Siemens to buy smart grid software company eMeter: Power and engineering giant Siemens will buy smart meter soft… http://t.co/Oi0WfbBP
Siemens to buy smart grid software company eMeter: Power and engineering giant Siemens will buy smart meter soft… http://t.co/aDqrpsor
Siemens to buy smart grid software company eMeter http://t.co/kpUsWa5A (via @gigaom)
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Siemens to buy smart grid software company eMeter http://t.co/E5BCZv5B
Siemens to buy smart grid software company eMeter http://t.co/cJh8G1o7
Siemens to buy smart grid software company eMeter http://t.co/B5ikwUY7
Siemens to buy smart grid software company eMeter http://t.co/76srzTzb
Siemens to buy smart grid software company eMeter http://t.co/CYgyGl3u
Siemens to buy smart grid software company eMeter – GigaOm http://t.co/oQni7kWp #SmartGrid
RT @gigaom: Siemens to buy smart grid software company eMeter http://t.co/RuoB1khF < next big area and obivious one
Siemens to buy smart grid software company eMeter: Power and engineering giant Siemens will buy smart meter soft… http://t.co/LdImdxn8
Siemens to buy #smart #grid software company eMeter http://t.co/6DfdOODb
Siemens to buy smart grid software company eMeter http://t.co/e8EhfpwH via Katie Fehrenbacher
RT @gigaom: Siemens to buy smart grid software company eMeter http://t.co/dtZZHqHp
Siemens to buy smart grid software company eMeter http://t.co/GQtWeHEJ
RT @katiefehren: Siemens to buy smart grid software company eMeter http://t.co/spyRxwlu
Siemens to buy smart grid software company eMeter http://t.co/jZfgPjRa
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Siemens to buy smart grid software company eMeter http://t.co/LcYt0KJ3 #business #midlandsconsultingcentre #
Siemens to buy smart grid software company eMeter http://t.co/X3Waqc1l
Siemens to buy smart grid software company eMeter: Power and engineering giant Siemens will buy smart meter soft… http://t.co/WSjUNzNS
RT @andysc: Siemens buys eMeter ! http://t.co/OkiVw8Ua #smarterenergy
gigaom: Siemens to buy smart grid software company eMeter http://t.co/TNRm6ge7
Siemens to buy smart grid software company eMeter: While the companies didn’t disclose the terms of the deal, th… http://t.co/TmcwyJ6y
Siemens to buy smart grid software company eMeter http://t.co/g12RLYyF
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Siemens to buy smart grid software company eMeter http://t.co/r0xmzph4 #marketing #business #success #biztips
Siemens to buy smart grid software company eMeter – Power and engineering giant Siemens will buy smart meter softwar… http://t.co/CzjLs81S
RT @katiefehren: Siemens to buy smart grid software company eMeter http://t.co/qAgQY9mO
Siemens to buy smart grid software company eMeter http://t.co/0p5QrwaT
Siemens to buy smart grid software company eMeter http://t.co/nd6liS5D
Siemens to buy smart grid software company eMeter – Power and engineering giant Siemens will buy smart meter softwar… http://t.co/LROymiqi
#tech #news Siemens to buy smart grid software company eMeter http://t.co/xJEnICDt
“@CleanTec: Siemens to buy smart grid software company eMeter http://t.co/rO24ebyD”
Deals like Siemens buying eMeter will mean more meaningful utility bills and service. http://t.co/AOmiy731
RT @gigaom: Siemens to buy smart grid software company eMeter http://t.co/dtZZHqHp
Siemens to buy smart grid software company eMeter – GigaOm: GigaOmSiemens to buy smart grid software company eMe… http://t.co/Yc9mT2Q8
[GigaOM] Siemens to buy smart grid software company eMeter: Power and engineering giant Siemens will buy smart m… http://t.co/XrMnJlMP
Siemens to buy smart grid software company eMeter: Power and engineering giant Siemens will buy smart meter soft… http://t.co/j4XxuVJi
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RT @gigaom: Siemens to buy smart grid software company eMeter http://t.co/dtZZHqHp
eMeter is the class act of smart grid. Siemens is one of the four logical partners. However, they also have an uneven record when it comes to taking advantage of acquisitions. Most likely, though, they will let Larsh be Larsh so it should work well.
Siemens to buy smart grid software company eMeter — Cleantech … http://t.co/JI7r8fdY
Siemens to buy smart grid software company eMeter — Cleantech … http://t.co/JI7r8fdY
Siemens to buy smart grid software company eMeter http://t.co/BlFILr4k
Will this intensify the MDM game? I think so.. RT @katiefehren: Siemens to buy smart grid software company eMeter http://t.co/0P29BYP5
RT @gigaom: Siemens to buy smart grid software company eMeter http://t.co/dtZZHqHp
シーメンスがスマートグリッドのeMeterを買収 http://t.co/ZXn8lhdT ビジコンも開催してイノベーション起こそうとしてる http://t.co/1oFzreNi
RT @kyuri02: シーメンスがスマートグリッドのeMeterを買収 http://t.co/ZXn8lhdT ビジコンも開催してイノベーション起こそうとしてる http://t.co/1oFzreNi
RT @CleanTec: Siemens to buy smart grid software company eMeter http://t.co/DquLOM2m
Siemens to buy smart grid software company eMeter: By Katie Fehrenbacher Dec. 5, 2011, 7:35am PT No Comments Pow… http://t.co/a6J6vcW7
RT @katiefehren: Siemens to buy smart grid software company eMeter http://t.co/spyRxwlu
Congrats to the eMeter team!: Siemens to buy smart grid software company eMeter http://t.co/tITEx75r
Siemens to buy smart grid software company eMeter: Power and engineering giant Siemens will buy smart meter soft… http://t.co/zmNkGd0d
wow. lots of smart grid news this week … RT @katiefehren: Siemens to buy smart grid software company eMeter http://t.co/Ko3918HM
Siemens to buy smart grid software company eMeter http://t.co/fow2KuOo
RT @gigaom: Siemens to buy smart grid software company eMeter http://t.co/dtZZHqHp
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http://t.co/ZJ2APMnq Siemens to buy smart grid software company eMeter – GigaOm
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[GigaOM] Siemens to buy smart grid software company eMeter: Power and engineering giant Siemens will buy smart m… http://t.co/q2N7TBZ4
#Siemens to buy smart grid software company eMeter. http://t.co/P5kM4x4H #SmartGrid, @cleantech
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INTERESTING MOVEMENT … Siemens to buy smart grid software company eMeter
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RT @eMeter: Siemens to buy smart grid software company eMeter http://t.co/gBiW5OoJ
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RT @eMeter: Siemens to buy smart grid software company eMeter http://t.co/gBiW5OoJ
RT @eMeter: Siemens to buy smart grid software company eMeter http://t.co/gBiW5OoJ
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#SmartGrid News: Siemens To Buy Smart Grid Software Company eMeter http://t.co/lAFXxlJr
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RT @eMeter: Siemens to buy smart grid software company eMeter http://t.co/gBiW5OoJ
Siemens to buy smart grid software company eMeter — Cleantech …: Power and engineering giant Siemens will buy … http://t.co/xpAI921s
Smart Meters – something to be afraid of? http://www.squidoo.com/beware-of-smart-meters
Siemens to buy smart grid software company eMeter http://t.co/aPRF9HKb @ijeffbt
RT @CleanTec: Siemens to buy smart grid software company eMeter http://t.co/DquLOM2m
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RT @eMeter: Siemens to buy smart grid software company eMeter http://t.co/gBiW5OoJ
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RT @CleanTec: Siemens to buy smart grid software company eMeter http://t.co/DquLOM2m
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Siemens to buy smart grid software company eMeter — Cleantech News and Analysis http://t.co/LaShLmNK
RT @newscaster: RT @eMeter: Siemens to buy smart grid software company eMeter http://t.co/zWqL0deC #energy
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RT @eMeter: Siemens to buy smart grid software company eMeter http://t.co/gBiW5OoJ
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Siemens to buy smart grid software company eMeter http://t.co/AWWfeEuF