ESCO Announces Acquisition of Smart Grid Solutions Provider
ST. LOUIS, Jan. 3, 2013 /PRNewswire via COMTEX/ --
ESCO Technologies Inc. (NYSE: ESE) today announced that it has acquired the assets of Metrum Technologies LLC, ("Metrum") a smart grid solutions provider based in Waco, Texas. The transaction also includes Metrum's research and development center located in Dallas. Metrum will become part of Aclara Technologies LLC, a member of ESCO's Utility Solutions Group. Terms were not disclosed.
Metrum is a leading provider of wireless public network communications products for electric utility customers, and also provides hosted software systems and network operation center services in support of its products. Metrum's patented high-bandwidth, secure and internet-protocol (IP) based advanced metering products have been deployed by over 350 utilities throughout the United States. The company also offers state-of-the-art communications products and devices for distribution automation and demand response applications.
Vic Richey, ESCO Chairman and Chief Executive Officer, commented, "Metrum not only significantly enhances our smart grid communications product offerings, but also allows us to broaden our industry-specific AMI expertise to better serve our utility customers."
"Metrum's communication technologies are an excellent complement to Aclara's network offering," said Brad Kitterman, President, Aclara. "Adding Metrum's portfolio of products to our existing offerings allows Aclara to provide a more comprehensive solution that will enable our existing customers - as well as new ones - to optimize the economics of their smart grid deployment by balancing bandwidth requirements with cost."
"Aclara has an outstanding reputation for providing exceptional smart grid solutions to all three utility segments," said Steve Swenke, Chief Executive Officer of Metrum. "I believe the combination of Metrum's and Aclara's technology platforms will enable a best-in-class offering of cellular, RF and powerline communications technologies for our utility customers."
ESCO, headquartered in St. Louis, is a proven supplier of special purpose utility solutions for electric, gas and water utilities, including hardware and software to support advanced metering applications and fully automated intelligent instrumentation. In addition, the Company provides engineered filtration products to the aviation, space, and process markets worldwide and is the industry leader in RF shielding and EMC test products. Further information regarding ESCO and its subsidiaries is available on the Company's website at www.escotechnologies.com.
SOURCE ESCO Technologies Inc.
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