Siemens IT Solutions and Services aims to strengthen its smart grid portfolio by acquiring a 60 per cent stake in the Germany-based Energy4U GmbH.
The acquisition becomes effective on 1 October.
Headquartered in Elbtal, Energy4U specializes in SAP implementation of customer information and billing systems for utilities. Founded in 2000, Energy4U GmbH has over 90 employees and is one of Germany’s top SAP service providers in this market segment. Both parties have agreed not to disclose the purchase price. The transaction remains subject to final approval by the German antitrust authorities.
Siemens offers products and services for utilities across the entire value chain — from energy generation, transport and distribution through to metering and billing. The company is also stepping up its activities in the area of intelligent and efficient power networks, known as “smart grids,” which are designed to promote efficiency and save energy.