As per the deal, Aclara will acquire more than 300 employees along with GE Meters’ global headquarters in Somersworth, New Hampshire.
The deal also includes satellite manufacturing facility in Chicago, Illinois and a center of excellence in Bilbao, Spain which is focused on the rapidly growing international regions, as well as a significant intellectual property portfolio of active patents and patent applications.
The transaction is subject to standard conditions, regulatory approvals, consultation processes with employees as applicable, and completion of business processes satisfactory to both parties.
Aclara CEO and president Allan Connolly said: "The combination of Aclara’s industry leadership in Advanced Metering Infrastructure (AMI) technology with GE Meters’ 130 years of operating experience, technology development and commercial expertise will enable us to accelerate development and delivery of advanced smart infrastructure solutions."
Aclara expects the deal to expand its offering for electric utilities across North America and around the globe, creating a leading smart infrastructure solutions provider.
Aclara board of managers member Brian Urbanek said: "Aclara will greatly benefit from GE Meters’ deep technology foundation and its seasoned engineering group.
"This expertise will support Aclara’s focus on addressing key technology trends including AMI integration, cyber security and standards, design for cost and field upgradability, all of which are important aspects of a smart infrastructure environment."
Terms of the deal, which is planned to be completed by the end of the year, were undisclosed.
In September, Aclara has unveiled the Synergize network, a fully integrated solution for gas, water and electric utilities designed to offers enhanced performance and the lowest cost of ownership.
