Monday, 28 March 2011

Schneider Electric Snaps Up Summit Energy for $268m

Schneider Electric has announced that it will acquire Summit Energy, a $65 million provider of outsourced energy procurement and sustainability services, for $268 million.

The acquisition will play a critical role in strengthening Schneider Electric’s energy management services portfolio, which will now offer customers energy procurement, market intelligence, data management, risk management and sustainability consulting services, Schneider said.

Summit’s online platform, dashboarDView, allows corporations to understand their energy and environmental costs and usage, Schneider said.

All of Summit’s 350 employees, in 11 offices throughout North America and Europe, will stay with the company. They will become part of Schneider’s Energy Solutions group.

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