Tremors of Consolidation in the Smart Grid Sector
The smart grid sector is booming and poised for consolidation as small companies scale their operations to be able to compete with heavy hitters like Google, Microsoft, Intel, Cisco Systems, Oracle and SAP, which are all looking to enter the sector.
A few deals, announced this week, mostly from established companies looking to grow their technology portfolio via targeted acquisitions, indicate a tremor in M&A activity.
On Monday, GridPoint acquired the energy business of Lixar, a Canadian web technology services company. The next day, Sensus, a North Carolina company with $670 million in annual revenues, announced its acquisition of Telemetric, a Boise, Idaho-based provider of communication solutions for smart grid systems. Telemetric is backed by Highway 12 Ventures, an early-stage venture capital fund.
Terms of the deal in both instances were not disclosed.
