ESCO Announces Acquisition of Smart Grid Solution Provider
ST. LOUIS, Sept 07, 2010 /PRNewswire via COMTEX/ --
ESCO Technologies Inc. (NYSE: ESE) today announced that it has acquired Xtensible Solutions, Inc. ("Xtensible"), located in Greenwood Village, Colorado. Xtensible is the thought leader in Enterprise Information Management Strategy, and is a leading provider of semantic-based information management and integration solutions to the utility industry worldwide. Such strategy and solutions are critical for utilities to build sustainable and interoperable Smart Grid implementations. Terms of the deal were not disclosed.
Xtensible will be included as part of ESCO's Utility Solutions Group and will be closely aligned with Aclara Software in providing best-in-class software services and products. Xtensible is expected to leverage Aclara's operational infrastructure as it continues its rapid growth, thereby positioning the Company to efficiently expand its service offerings.
Karen Flathers, General Manager of Aclara Software, commented, "We are very excited to add such a well-respected Smart Grid solution provider to our portfolio, and we are equally pleased that the outstanding management team, led by Greg Robinson, will continue to direct the company's day-to-day operations. Xtensible's expertise and knowledge of the various Industry Standards driving today's Smart Grid represent a significant resource as we develop new software platforms and applications for our utility customers."
Greg Robinson, President of Xtensible, added, "Becoming a part of ESCO certainly creates an exciting growth opportunity for Xtensible, as we see many opportunities for the companies to work together in serving our common customer base. Additionally, I'm pleased to see that ESCO shares our core values, including a strong focus on customers and employees."
Vic Richey, ESCO Chairman and Chief Executive Officer, commented, "This acquisition not only enhances our portfolio of utility-based services, products and solutions, but it also allows us to broaden our industry-specific expertise, particularly in the area of Standards Compliance, so that we may better serve our customers."
ESCO, headquartered in St. Louis, Missouri, is a proven supplier of special purpose utility solutions for electric, gas and water utilities, including hardware and software to support advanced metering applications and fully automated intelligent instrumentation. In addition, the Company provides engineered filtration products to the aviation, space and process markets worldwide and is the industry leader in RF shielding and EMC test products. Further information regarding ESCO and its subsidiaries is available on the Company's website at www.escotechnologies.com.
SOURCE ESCO Technologies Inc.
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