05 Dec '11, 3pm

Siemens to Acquire VC-Funded Meter Data Management Leader eMeter via @greentechmedia

Siemens to Acquire VC-Funded Meter Data Management Leader eMeter via @greentechmedia

Siemens Industry (NYSE: SI) just announced that it will acquire VC-funded and San Mateo, California-based meter data management company eMeter. Pricing details were not disclosed. The eMeter platform is being used in a large number of smart grid deployments around the world. The firm will join the Smart Grid Division of the Siemens Infrastructure Group within Siemens Industry in the United States. EMeter has received more than $70 million in venture capital funding from Sequoia Capital, Foundation Capital, and others. So, one of the questions here is whether this was a strong exit with a good multiple or a weak exit and fire sale. We will continue to investigate that. But I'm guessing that Siemens will be happy with its purchase, because eMeter has done a lot of things right. The firm has an international presence, with more than 24 million meters under contract in big dep...

Full article: http://www.greentechmedia.com/articles/read/Siemens-to-Ac...

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