Greentech Lead India: Crompton Greaves (CG) an Indian
manufacturer of electrical transmission and distribution equipment has acquired
ZIV, a smart grid automation company in Spain for an enterprise value
equivalent to Euro 150 million.
With this acquisition, CG is looking to expand its global
presence in smart grid segment. CG believes this acquisition will
place the company in a position to effectively compete in the fast growing
segment. ZIV’s technology and track record in the development of
smart grid solutions will help the company serve better its customers.
ZIV has operations in more than 50 countries, with major
centers in Brazil, India, Spain and the US. The company has been collaborating
with CG in India for years and has developed technologies for the deployment of
smart grids, complementing CG’s offering. After the acquisition ZIV’s staff
will join CG family.