Smart grid technology and services firm Sensus is expanding its reach to South America.
In the second such deal so far this year, Raleigh-based Sensus said Monday that it had acquired a 15 percent equity stake in CAS Tecnologia, a smart grid vendor based in Brazil.
Back in April, Sensus invested in a U.K.-based firm.
Financial details of the CAS deal were not disclosed.
“This is the latest step in our strategic growth initiative, which is to accelerate our presence in targeted markets, expand our offerings in the smart water network and smart grid markets and accelerate the adoption of our core technologies in one of the fastest growing economies in the world,” said José António Hernandez, Sensus’ executive vice president. “Given that CAS is the region’s leader for smart grid, AMI and distribution automation technology and that our products are highly complementary, we see tremendous opportunities for both Sensus and CAS in the Americas and worldwide.”
Sensus will partner with CAS to sell electric and water utility products and wireless network infrastructure.
CAS already works with 16 of Brazil’s 26 largest utility providers.