TE Connectivity Acquires Smart Grid Company Kries, Expanding TE’s Smart Grid Monitoring, Protection, Automation Capabilities
TE Connectivity (TE), a world leader in connectivity and sensors, has acquired Kries, a German pioneer in smart grid systems. With this strategic acquisition, TE’s energy business unit fortifies its position as a leading provider of grid reliability solutions to utilities and owners of power networks and renewable power infrastructure worldwide.
The acquisition expands TE’s power grid monitoring, protection, and automation systems portfolio. By adding intelligence to their distribution grid, grid operators can detect fault conditions, perform predictive maintenance and stabilize the interplay between power generation and consumption, which is critical for the transition to renewable energy.
"For 28 years, Kries has been a leading player in digitalizing the grid, helping distribution network owners to improve grid uptime and network efficiency effectively," said Gunter Kries, founder of the company. "With TE, Kries gains access to a global sales network and becomes their new engineering and manufacturing competence center for smart grid innovation. I am excited for the future of the Kries business.”
“Kries is an attractive addition to the TE portfolio because of its proven market reputation and innovative solutions that strengthen our position as a provider of grid reliability through intelligent grid solutions. I am pleased to welcome the talented Kries team to TE,” said Bart Otten, senior vice president, and general manager of TE’s energy business unit. “Adding Kries to our portfolio enhances the value we bring to our customers as one connectivity partner. This acquisition is a critical milestone in our strategic vision to be a partner of choice for innovating sustainable energy networks that keep the power on.”
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