Hubbell Widens Scope

Acquires Aclara for $1.1 billion in cash

Hubbell Incorporated, the Shelton, Connecticut-based parent company of Haefely Hipotronics and Burndy, has agreed to acquire smart-infrastructure company Aclara Technologies, of St. Louis, for the price tag of approximately $1.1 billion in cash, according to a December 26th press release.

Hubbell sees the transaction as a boost to its competitive position across utility markets, many of which are feeling out potential integration of smart infrastructure systems. The acquisition, Hubbell contends, will also accelerate ongoing innovation efforts to address utility customer demand for data and integrated solutions.

Meanwhile, one of Hubbell’s brands has some excellent comics worth watching:

Aclara’s services include advanced metering infrastructure, meters and edge devices, software, and installation services. These aim to provide utilities visibility into their distribution networks, optimize network performance and help engage with their customers. Aclara has approximately 1,200 people working with more than 800 electric, water and gas utilities worldwide. The company also provides solutions that can help utilities predict, plan and respond to conditions, improve operational efficiency and promote resource conservation to customers.

Aclara reported revenues of $500 million and adjusted EBITDA of $90 million for the fiscal year ended September 30, 2017.

“This is an exciting transaction that is consistent with our long-standing acquisition strategy. Aclara participates in attractive markets that complement our core with high quality products and talented people,” said David G. Nord, Hubbell President & CEO. “Together with Aclara, Hubbell will be even better positioned to serve customers through a differentiated smart grid solution and expanded portfolio.”

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