Global | 6 Mar 2013
Ormazabal acquires CurrentOrmazabal acquires Current, an American company which is a world reference in Smart Grid equipments.
- The incorporation of Current provides Ormazabal with latest generation technology for Smart Grids and consolidates its position in the sector worldwide.
- The complementary nature of both companies’ businesses and products enables Ormazabal to expand its range, thereby facilitating the development of new solutions that improve electrical network efficiency.
- This acquisition reinforces the position of Ormazabal in the electricity sector and reaffirms its traditional commitment to innovation.
Ormazabal continues to invest in order to consolidate its position in the Smart Grids sector. The latest initiative in this regard has been the recent acquisition of the American company Current, which in recent years has become a benchmark at international level in Smart Grid solutions.
This technology-based company, located in Maryland and with annual turnover of 10 million dollars, provides Ormazabal with three lines of business which are key parts of future electrical networks: smart metering solutions, low voltage network monitoring and analysis systems, and products for communications networks.
Current is a founder member of the PRIME (PoweRline Intelligent Metering Evolution) Alliance, promoted by world class companies in the electrical sector. This international initiative promotes open standard technology which enables telemetering equipment and services to be shared in all networks in the world, promoting greater efficiency and facilitating the transition from traditional networks to smart grids. A fact that has influenced Ormazabal’s decision to acquire this American company.
The product and service lines of both companies are complementary and will enable Ormazabal to offer complete monitoring, automation and communications solutions for the transformer substations in electrical networks. This acquisition will facilitate the development of solutions that combine the capabilities of both companies, significantly boosting the automation and transformer substation business, as well as the installation of more advanced medium voltage equipment. For its part, the extensive international organization of Ormazabal will promote the introduction of Current solutions in countries where Ormazabal has a strong sales network, such as Germany, France, the United Kingdom, China and Latin America.
Ormazabal already has consolidated experience in the field of smart grids, providing proprietary monitoring and automation solutions for the electrical network. The acquisition of Current allows Ormazabal to access latest generation technology, while still maintaining its strategy of in-house development of new solutions based on its Research and Technology Centre.
International presence of Ormazabal
With this acquisition, Ormazabal reinforces its international expansion, which has gained increasing importance in recent years. In fact, Ormazabal has an importance international presence in the world, with facilities in Argentina, Brazil, China, France, Germany, Mexico, Poland, Portugal, Spain and Turkey, and is present in more than 50 countries through subsidiaries and distributors.