BPL Global, a smart-grid technology company, has acquired Serveron, a transformer monitor technology and diagnostic services provider.
Serveron will become a division of BPL and maintain its headquarters in Hillsboro, Ore. With the acquisition, BPL said it expands its smart-grid presence from the customer premises back through the substation. Serveron's solutions help utilities avoid transformer failures and resultant blackouts, reduce maintenance costs and defer capital expenditures by extending transformer useful life.
Todd Jaquez-Fissori, a Siemens Venture Capital investment partner, and John Fox, managing director at Perseus, a private equity fund mangement company in Washington, DC, will join BPL’s board of directors as a result of the acquisition.
“Siemens is pleased to join the BPL Global board because of the importance of smart grid technology in promoting energy efficiency and reaching environmental impact goals,“ Jaquez-Fissori said.
Terms of the deal were not disclosed.