Proving the Business Case for the Internet of Things

Siemens hunting for takeover opportunities in smart grid sector: Bloomberg

Iain Morris
November 11, 2014

Germany’s Siemens is looking to beef up its smart grid business through takeover activity, according to a report from Bloomberg.

During a recent interview, Thomas Zimmermann, who heads up Siemens’ smart grid solutions and services unit, said the Munich-based company was currently making substantial investments in smart grid R&D but would also look to acquire companies in this area.

The company develops software that is designed to help utilities better react to fluctuations in energy demand.

“Digitalization is one of the major growth areas for Siemens and smart grids are a key part of that,” said Zimmermann, as quoted by Bloomberg. “Margins in software businesses are higher.”

According to Bloomberg, Joe Kaeser, the chief executive of Siemens, has previously indicated that he wants the company to invest more in “electrification, automation and digitalization” so that it can better stand up to rivals like GE.

As part of those plans, Kaeser wants to develop capabilities in M2M and Internet of Things technologies, allowing organizations to monitor equipment remotely and derive insights from the data that machine sensors generate.

The energy sector has been singled out as a critical element in these plans, according to Bloomberg.

Forming a part of Siemens’ energy interests, the company’s smart grid division develops software to make sure that power networks are operating as efficiently as possible.

During his interview with the news organization, Zimmerman is reported to have said there are “huge growth opportunities” in the smart grid area in the US market and that Europe is “picking up”.

Siemens bought a US smart metering company called eMeter Corp back in 2011.
 
Other News
 
PEP Stations and Axeda Charge Ahead with Remote Monitoring and Reporting
 
PEP Stations needed a remote monitoring and reporting solution for its electric vehicle charging stations, which served building tenants.  
Numerex M2Mdirector Delivers Cost Savings and Safety Benefits to the Oil & Gas Industry
Managing marginal well operations is labor intensive. Pumpers drive to each tank daily to check water and oil levels and equipment, including drilling motors. If levels are too high, pumps must be manually shut down to avoid spills and incurring fines and cleanup costs.