Cooper Industries, Ltd. announced the acquisition of Cybectec, Inc., a privately held worldwide provider of products and software systems designed to assist utilities in modernizing their automation systems with revenues of $8.5 million over the past twelve months. Cybectec will become part of the Cooper Power Systems division of Cooper Industries. Financial terms were not disclosed.
"The need to expand and update the automation capabilities of utility systems is widely recognized," said Cooper Industries Chairman and Chief Executive Officer Kirk S. Hachigian. "Cybectec expands Cooper Power Systems’ capabilities in this area with new products, software solutions, and expertise that will simplify the automation process for our customers. Not only are Cybectec’s offerings ideal for new installations, they are particularly well-suited for modernizing and integrating legacy equipment."
The acquisition of Cybectec and the recently announced acquisition of Cannon Technologies, Inc. are part of a series of technology investments Cooper has made to broaden its range of energy automation capabilities. Cannon’s automation technologies for monitoring, metering and energy management are used by over 400 utilities.
"Cooper is committed to providing state-of-the-art products and solutions to the utility industry. Its recent investments in various energy automation technologies were key to our decision to join forces with the company," said Cybectec Co-Founder Yves Racine. "Since our beginning in 1980, Cybectec has provided its customers with solutions that meet the most demanding real-time and reliability requirements in a number of areas, including electrical power substation automation, integration, communication and instrumentation. Cooper gives us the ability to expand our reach around the world."
