Honeywell has revealed the expansion of its Smart Energy portfolio with the tuck-in acquisition of three utility platforms from SparkMeter, Inc, a provider of leading grid management solutions for utilities.
The acquisition includes intellectual property as well as certain related assets from SparkMeter.
The integration of these grid intelligence technologies from SparkMeter aims to enhance Honeywell Forge Performance+ for Utilities, enabling the delivery of scalable, data-driven solutions designed to modernize grid infrastructure and address the increasing demand for energy.
Honeywell will be acquiring Praxis, a data platform designed to deliver insights and analytics that help utilities modernize, maximize and monetize their assets.
Gridscan is a software application that offers simple and immediate visibility into operational performance and a health of distribution grids.
The third utility platform acquired by Honeywell is GridFin, a financial management application that analyzes and manages energy supply costs, optimizes customer rates and improves overall financial performance.
Amol Motivala, President of Honeywell Smart Energy commented: “As the demand for energy continues to grow, utilities are facing new challenges that can impact their ability to quickly and efficiently modernize their infrastructure to meet these needs.
“By combining these SparkMeter technologies with Honeywell Forge Performance+ for Utilities, we will be able to provide our customers with advanced tools that automate, simplify and optimize their daily planning, operations and existing grid assets.
“The expansion of our smart energy portfolio will ensure our customers can navigate changing energy demands efficiently – allowing for more comprehensive data management, business intelligence and analytics functionality for utilities.”
Honeywell has revealed the expansion of its Smart Energy portfolio with the tuck-in acquisition of three utility platforms from SparkMeter, Inc, a provider of leading grid management solutions for utilities.
