GE looks for acquisitions in smart grid

General Electric (Fairfield, Conn.) is looking for acquisitions in smart grid technology according to Keith Redfearn, the EMEA & India regional general manager for GE Energy.

In January, GE acquired Remote Energy Monitoring, Ltd., a smart metering technology company that operations in the United Kingdom and Australia. In May, GE announced its plans to acquire FMC-Tech (Houston Texas), a provider of real-time power line monitoring for power grid technology. The acquisition is expected to be completed this month.

GE was initially bidding to acquire Swiss-based meter maker Landis+Gys back in April, before Japanese electronics manufacturer Toshiba Corp won a $2.3 billion deal with the company.

“GE Energy is growing its technology footprint in the Smart Grid space,” said Neil Gazeley, communications manager EMEAI at GE Energy. “This means that we are investing in research, developing new solutions and when it makes good commercial sense GE is also acquiring companies that will help us reach key market sectors and geographies.”

GE pushed its involvement in the smart grid sector back in July of last year when CEO Jeff Immelt announced GE’s $200 million innovation to find and fund the best ideas in the smart grid industry.

The European Union wants about 80 % of households to be equipped with smart meters by 2020. Many companies in Europe have started to acquire smart grid technology companies.

This month, France's Schneider Electric said it would buy energy software provider Telvent for $1.36 billion as part of its push into energy efficient grids and emerging markets.

(Reporting by Maria Sheahan; Editing by Hans-Juergen Peters)

ArticleTools

Featured Reports

Understanding and Capitalizing Upon Telecom APIs for Communications Enabled Applications
Big Data and Analytics software and applications will play a crucial role in making IoT a success. The data generated through sensors embedded in various things/objects will generate massive amounts of unstructured (big) data on real-time basis that holds the promise for intelligence and insights for dramatically improved decision processes.

Content Delivery Networks (CDN) 2015
Content Delivery Networks (CDN) represent large distributed system of servers deployed in multiple data centers across the Internet. CDNs provide solutions for efficiently and effectively managing content of all types. Solutions include core services such as aggregation, management, and distribution of content as well as a variety of value-added functionality.

Technologies Impacting and Impacted by Operational Support Systems (OSS)
There are significant changes underway in the CSP industry that are causing fundamental re-evaluations of business models, technology stacks and service offerings. This research assesses a range of relatively nascent technologies that have the potential to change the dynamic of OSS, whether via the networks they manage, or as building blocks on which to build better OSS tools.

Market Opportunity: Big Data in the Internet of Things
Big Data and Analytics software and applications will play a crucial role in making IoT a success. The data generated through sensors embedded in various things/objects will generate massive amounts of unstructured (big) data on real-time basis that holds the promise for intelligence and insights for dramatically improved decision processes.

Concise, Practical Market Reports on Big Data, IoT, CDN & More!
Access the exclusive new series of market research reports brought to you through the partnership of Mind Commerce research and TelecomEngine.com.
Browse the latest titles

 

 

Featured Events & Partners

GEN 15
Nov. 16-19, 2015

Omni Hotel, Dallas, Texas

The global gathering of networking professionals enabling the future of agile, assured and orchestrated services powered by CE 2.0, LSO (Lifecycle Service Orchestration), SDN and NFV.

Visit event website...
 

 

Business Wire