Mergers and Acquistions News
Categories: Hardware
September 3rd 2010, 15:46PM
Cisco Systems Inc, a networking equipment manufacturer, announced yesterday it will acquire wireless network technology firm Arch Rock Corporation.
The move is part of a wider Cisco strategy to move into the flourishing smart grid sector. San Francisco-based Arch Rock specialises in providing internet protocol-based wireless technology for smart grid applications.
They work by delivering electricity from suppliers into consumers' homes via digital technology. Appliances can then be controlled so that energy can be saved and costs reduced.
Laura Ipsen, senior vice president and general manager of Cisco's smart grid business unit, said: "Arch Rock's wireless mesh technology enhances Cisco's IP-based, end-to-end smart grid offerings.
"This acquisition further positions Cisco as a strategic partner to utilities working to better manage power supply and demand, improve the security and reliability of energy delivery, and optimize operational costs."
The acquisition, financial details of which have not been released, is expected to complete toward the end of the year.
According to Reuters, the smart grid market was valued at $21 billion (£13.6 billion) last year.
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