Telvent takes majority interest and invests in Telvent DMS, LLC to accelerate development and fortify its Smart Grid Solution Suite for the global Electric Industry
January 31, 2011 – Telvent (NASDAQ: TLVT), a leading real-time IT solutions and information provider for a sustainable world, announced today that it has entered into an agreement to acquire an additional stake and make an additional investment in Telvent DMS, LLC. The transaction also includes acquisition of energy management systems (EMS) applications and a new three year R&D plan which will enhance and extend its presence in global utility smart grid infrastructure investments.
Telvent will increase its stake in Telvent DMS to 57 percent. By increasing its investment for development in Telvent DMS, Telvent will enhance and further integrate its products, solutions and services portfolio including energy management systems (EMS) advanced distribution management systems (ADMS), electrical SCADA, network operations and planning, asset (GIS), outage (OMS) and meter data management (MDM) on a highly available, secure and integrated platform. Telvent expects that new customers, as well as its large base of existing utility customers, to be able to further improve operating efficiency, reduce costs and integrate real-time operations data with its enterprise in a way never before available from the market. The investment also supports the completion of an advanced EMS which provides a wide set of applications for efficient control of transmission and sub-transmission network operations. The advanced EMS tools will optimize large generation with power transmission and provide an integration of smart controls for generation from renewable resources.
According to Telvent’s CEO, Ignacio Gonzalez, "We believe that this expansion will make our Smart Grid Solution Suite the most differentiated and powerful solution in the market. Our existing and new customers will benefit even more from the full integration of information, optimized operations and security while leveraging the latest technologies, architectures and software delivery models as Telvent accelerates development of comprehensive strategies for the utility market."
The investment will allow Telvent to enable modern utilities to respond to new distributed and renewable generation capacity coming online, leverage Volt/VAR control strategies, automate important substation and feeder assets and optimize network operations providing Demand Side Management (DSM) by using Advanced Metering Infrastructures (AMI) and enterprise applications.
Telvent (NASDAQ: TLVT) is a global IT solutions and business information services provider that improves the efficiency and reliability of the world’s premier organizations. Telvent serves markets critical to the sustainability of the planet, including the energy, transportation, agriculture and environmental sectors. ( www.telvent.com)
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