Cisco to acquire smart-grid company Arch Rock
Cisco Systems Inc. said Thursday it plans to acquire Arch Rock Corp., which provides wireless network technology for smart-grid applications.
San Jose-based Cisco (NASDAQ:CSCO) did not disclose financial or other terms of the deal which Arch Rock, which is located in San Francisco.
Laura Ipsen, senior vice president and general manager of Cisco's Smart Grid business unit, said Arch Rock's wireless mesh technology "enhances Cisco's IP-based, end-to-end smart-grid offerings. This acquisition further positions Cisco as a strategic partner to utilities working to better manage power supply and demand, improve the security and reliability of energy delivery, and optimize operational costs."
Arch Rock's technology is designed to let utilities connect smart meters and other distributed intelligent devices over a secure, multi-way wireless mesh network.
Read the full report in the San Jose Business Journal
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