Hubbell Power Systems Buys Aclara, A Provider of Smart Meters, For $1.1 Billion
This is the second time that Aclara has been bought. Sun Capital, its current owner, bought it from ESCO technologies in 2014. It has more than 800 customers and approximately $1 billion in contracted sales backlog. According to a report by Navigant Research released last year, the market for smart meters plateaued last year after a surge in deployments between 2009 and 2012. Aclara was the leader with a market share of 28.6 percent by the end of April 2016. Itron and Landis + Gyr had market shares of 24.2 percent and 23.7 percent respectively. The deal should bolster Hubbell's offerings to its customers in the electricity and water space.
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