St Louis, MO, U.S.A. — (METERING.COM) — December 6, 2007 – ESCO Technologies Inc., a supplier of special purpose communications systems for electric, gas and water utilities, including hardware and software to support advanced metering applications, has completed its $319 million acquisition of Doble Engineering Company, a provider of high-end, diagnostic test solutions for the electric utility industry. Doble will continue to be led by its existing management team and will operate as a stand-alone subsidiary within ESCO’s Communications segment.
Vic Richey, ESCO’s Chairman and Chief Executive Officer, commented, "We are very excited about completing this acquisition and the immediate financial impact it will have on our operations. Doble supplements our commitment to the utility industry and allows us to participate more meaningfully in support of the intelligent grid. As part of our Communications segment, Doble is expected to provide consistent sales revenue which will help offset the somewhat cyclical nature of AMI spending. We have now positioned ourselves to be a total solution provider of proven and secure AMI offerings, home area networks (HANs), and data analytics that aid the utility industry in energy efficiency and reliable power delivery.
"Utilities and other power delivery companies face a host of near-term challenges including system expansion requirements, aging infrastructures, and a heightened focus on return on assets. Having Doble on board will allow us to further leverage its domestic market leadership position into international sales growth, thereby considerably enhancing its market position globally."