Cooper Industries acquires smart meter company Eka Systems (Washington)
Industrial manufacturing giant Cooper Industries PLC has acquired Germantown-based Eka Systems Inc., a maker of wireless smart meter equipment, for an undisclosed sum.
Eka Systems manufactures radio frequency systems for smart grid communications applications used by utilities, including wireless meter reading, power outage detection and grid data tracking.
"This is the fourth acquisition we have made into our Energy Automation Solutions business and demonstrates Cooper's ongoing commitment to being a market leader in utility automation," said Kirk Hachigian, CEO of Cooper Industries, based in Dublin, Ireland.
While Cooper did not disclose what it paid for Eka Systems, the larger company said the acquisition and investment into additional research and development will trim its 2010 earnings by 3 cents per share.
Read the full post in the Washington Business Journal.
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