Siemens will buy eMeter
Siemens Industry Inc. said Monday it is planning to acquire all stock of eMeter Corp., which makes metering software for electric, gas and water utilities.
Financial details of the transaction were not disclosed. The purchase is expected to close this month.
San Mateo-based eMeter is expected to become part of the smart grid unit of the Siemens Infrastructure & Cities Sector. It is expected to continue operations in San Mateo, with its employees being integrated into the Siemens (NYSE:SI) business structure.
J.P. Morgan was eMeter's financial adviser on the deal.
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