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Auckland-based smart metering and data services company Bluecurrent has inked an agreement to acquire Melbourne-based Metropolis Metering, which specialises in the commercial and industrial and embedded network markets.
Auckland-based Bluecurrent’s CEO, Neil Williams, said the proposed buy-out delivered an expanded suite of services for customers.
“Our new, combined business will continue to deliver Bluecurrent’s market-leading work, supported by Metropolis Metering’s agile, innovative practices,” Williams said.
Metropolis Metering CEO Andrew Randall said he was excited about the opportunities that Bluecurrent would bring to the business, with its scale and customer relationships across Australia and New Zealand.
“From the outset we have had strong values alignment with the Bluecurrent team, focused on sustainable growth and playing a pivotal role in the transition to carbon-zero, ensuring a smarter future for all,” Randall said.
The agreement is subject to conditions, with completion of the expected in early December.
Bluecurrent was formerly known as Vector Metering and is still half owned by the Auckland-based power company alongside other investment firms.
In August, the company appointed three new members to its executive team, including former Microsoft A/NZ channel sales and partnerships director Matt Bostwick, who is now chief customer officer.