A consolidation in the smart grid sector may be getting underway according to a Reuters story, which states that large technology companies and conglomerates are combing through the field of venture-backed startups in search of the right mix of expertise.
Companies ranging from Cisco (Nasdaq: CSCO) and IBM (NYSE: IBM) to GE (NYSE: GE) and Siemens (NYSE: SI) hope to secure big-money contracts with utility companies who are moving from pilot scale smart-grid projects to full-scale rollout.
Kyle Jones, principal at Greentech Capital Advisors, told Reuters the increased interest is due, in part, to quicker-than-expected investment in the smart-grid space.
"[I]t has become apparent in the past 12 months that the spending to upgrade the grid infrastructure in the U.S. and abroad is going to be more near-term than people thought," Jones said.
Read the full story at the link below.
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