Zamudio, Spain — (METERING.COM) — March 8, 2013 – Medium voltage electricity distribution network equipment and services supplier Ormazabal has acquired the American smart grid solution provider CURRENT Group.
According to a statement the acquisition reinforces the position of Ormazabal in the electricity sector, and reaffirms its traditional commitment to innovation.
CURRENT provides Ormazabal with three lines of business that are key parts of future electrical networks: smart metering solutions, low and medium voltage network monitoring and analysis systems, and products for communications networks.
CURRENT is a founding member of the PRIME (PoweRline Intelligent Metering Evolution) Alliance, which promotes an open, interoperable communications standard technology that enables telemetering equipment and services to be shared – a fact that influenced Ormazabal’s decision to acquire the company.
The product and service lines of both companies are complementary and will enable Ormazabal to offer complete monitoring, automation and communications solutions for the transformer substations in electrical networks. The acquisition will also facilitate the development of solutions that combine the capabilities of both companies, boosting the automation and transformer substation business, as well as the installation of more advanced medium voltage equipment. For its part, the international organization of Ormazabal will promote the introduction of CURRENT solutions in countries where Ormazabal has a strong sales network, including Germany, France, the United Kingdom, China, Brazil and Argentina.