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Siemens acquires 60 percent stake in Energy4U - smart-grid solutions for utilities

25.08.2009

Effective 1 October 2009 Siemens IT Solutions and Services will acquire a 60 percent stake in Energy4U GmbH.

The aim of the investment is to strengthen the smart grid portfolio for utility companies in the area of smart metering and billing, also known as “meter-to-bill”. Based in Elbtal, in the state of Hesse, Energy4U specializes in SAP implementation of customer information and billing systems for utilities. Founded in the year 2000, Energy4U GmbH has over 90 employees and is one of Germany’s leading 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 solutions 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 connection with innovative solutions for intelligent and efficient power networks, known as “smart grids”. Smart grids - promoting energy efficiency and saving resources - are part of Siemens environmental portfolio, which generated sales of just under 19 billion euros in fiscal 2008. This represents around a quarter of total company sales and makes Siemens the world’s largest infrastructure provider in the area of environmental technology.