Siemens acquires Advanced Telemetry
Siemens Industry has acquired substantially all of the assets of Advanced Telemetry, LLC, a San Diego-based company offering end-to-end wireless and cloud-based energy management solutions for retail and commercial businesses. Financial terms were not disclosed.
“The Advanced Telemetry acquisition enables Siemens to expand its reach into new vertical markets and channels,” says Rich Lattanzi, vice president of Control Products and Systems, Building Technologies Division of Siemens Industry, Inc. “The acquisition helps Siemens to solidify its range of energy management and wireless solutions from very large buildings and campuses right down to smaller, 10,000 sq. ft or less franchised retail fast-food restaurants.”
Thomas Naylor, Founder, CEO and CTO of Advanced Telemetry will join Siemens Building Technologies as Director of Cloud Computing. “We are pleased that the Advanced Telemetry asset acquisition will help Siemens expand in the small commercial market,” says Lyle Deitch, Advanced Telemetry COO.
Advanced Telemetry’s advanced wireless energy management technology will enhance Siemens’ overall Retail and Commercial Systems product and solutions portfolio. In most sectors of the economy the need continues to grow for energy consumption transparency in support of cost-effective energy management. Siemens acquisition is intended to help extend its reach into new and emerging markets including franchised, quick-serve and full-service restaurants.
Siemens Industry, Inc. is the U.S. affiliate of Siemens’ global Industry Sector business—the world’s leading supplier of production, transportation and building technology solutions. The company’s integrated hardware and software technologies enable comprehensive industry-specific solutions for industrial and infrastructure providers to increase their productivity, sustainability and profitability. The Industry Sector includes six divisions: Building Technologies, Industry Automation, Industry Solutions, Mobility, Drive Technologies and Osram Sylvania. With nearly 204,000 Siemens Industry Sector employees worldwide, the Industry Sector posted a worldwide profit of $4.7 billion on revenues of $47.3 billion in fiscal 2010.