June 9, 2014
Landis+Gyr, a global leader in energy management solutions, announced that it has signed a definitive agreement to acquire GRIDiant Corporation, a utility analytics company focused on the electric distribution grid. This transaction will expand Landis+Gyr's software analytics portfolio, further enhance end to end solution capability and underscores the company's commitment to becoming a global leader in smart grid technologies and products.
Advanced grid analytics enable utilities to extract business value from large data sets, as smart meters and other grid devices provide more timely and in-depth information about their distribution networks. Utilities implementing these tools can use this information to improve reliability, enable renewable energy resource integration, and enhance customer service. GRIDiant's proven analytics suite will be integrated into Landis+Gyr's advanced metering infrastructure (AMI), distribution grid management and cloud-based solutions for utility customers.
"We understand that utilities around the world want to continually improve their business operations," said Andreas Umbach, Landis+Gyr's President and CEO. "We believe the insights gained from analytic tools are essential ingredients in leveraging the value from smart grid infrastructure investments, and that these insights can promote operational efficiency throughout the distribution grid."
The influx of data from advanced metering, intelligent sensors and other distribution devices can challenge a utility's ability to utilize data for planning and operational performance. Landis+Gyr's advanced analytic offering will help correlate data collected from the smart grid network with other enterprise data to improve efficiency, streamline operations and facilitate a more rapid decision making process.
"Our work with Landis+Gyr as a partner has been positive and we are pleased that our relationship is moving into a full ownership model," said Soorya Kuloor, CTO for GRIDiant. "This transaction is wonderful news for both our employees and customers--both present and future--as we will now become a key element in the solution offering for a leading smart metering and grid management company."
"We are pleased to be broadening the analytics capabilities of our solutions portfolio and integrating the GRIDiant team into our North American operations," added Prasanna Venkatesan, Executive Vice President for Landis+Gyr Americas region. "The combination of our market leading smart grid platform and the analytics tools developed by GRIDiant will offer utilities additional quantifiable benefits as they work to address the many challenges faced today- such as aging infrastructure, distributed generation and outage management."
Landis+Gyr is the leading global provider of integrated energy management products tailored to energy company needs and unique in its ability to deliver true end-to-end advanced metering solutions. Today, the Company offers the broadest portfolio of products and services in the electricity metering industry, and is paving the way for the next generation of smart grid. With annualized sales of more than US$1.5 billion, Landis+Gyr, an independent growth platform of the Toshiba Corporation (TKY:6502) and 40% owned by the Innovation Network Corporation of Japan, operates in 30 countries across five continents, and employs 5,200 people with the sole mission of helping the world manage energy better.
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Landis+Gyr Inc. (Headquarters)
Contact person: Dan Jacobson