Aclara Completes Acquisition of GE Electricity Meters Business

Aclara Technologies LLC announced today that the acquisition of the electricity meters business currently operating within GE Energy Management's Grid Solutions subdivision (GE Meters) has been completed. Terms of the transaction were not disclosed. GE Meters serves global customers with a range of residential, commercial and industrial meter technology.

The acquisition includes GE Meters' global headquarters in Somersworth, New Hampshire, as well as facilities in Chicago, Illinois and Bilbao, Spain. It also includes more than 300 employees in these locations as well as other employees located in North and South America, Asia and United Kingdom. As part of the transaction, Aclara has also acquired a significant intellectual property portfolio of active patents and patent applications, ensuring a seamless transition for GE Meters' customers.

"The acquisition of GE Meters has been completed smoothly and according to schedule. We look forward to proceeding with the integration of operations and employees into a dynamic, expanded and highly synergistic organization that combines Aclara's industry leading advanced metering infrastructure (AMI) technology with GE Meters' 130 years of operating experience, technology development and commercial expertise. The combined offering will set a new standard of excellence for our industry," said Allan Connolly, CEO and President of Aclara.

Aclara's goal is to offer electric utilities a comprehensive portfolio of smart infrastructure solutions that provide superior performance and operational efficiencies. Smart infrastructure solutions magnify the benefits of networks that perform automated metering reading by incorporating a range of sensors, communications, and analytic technologies that let utilities monitor their distribution networks, optimize operations, respond to issues quickly, and preempt problems.