Mumbai: Crompton Greaves (CG) has acquired 100 per cent stake in Spain-based ZIV for an enterprise value of €150 million.
ZIV is into high value smart grid and automation solutions for industrial and utilities segments.
The company provides digital equipment for grid automation and advanced metering infrastructure.
It operates in over 50 countries, with major operations located in Brazil, Bangalore, Spain and the US.
CG said it has been expanding its activities into the systems arena, providing integrated solutions for utilities and industries and ZIV would complement its offering for grid automation.
Mr Laurent Demortier, Managing Director, said, “With the exciting growth in smart grid around the world, CG is now well positioned to effectively compete in this fast growing segment.”
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