SAN JOSE, Calif. – Cisco Systems said Thursday that it plans to acquire Arch Rock Corp., a maker of wireless network equipment for smart grids, for an undisclosed amount.Cisco said Arch Rock will help Cisco with its smart grid applications for utilities. Arch Rock's technology is designed to allow utilities to connect smart meters and other devices over a secure, multi-way wireless mesh network. The deal complements Cisco's recent partnership with Itron to develop services that enhance smart-metering technology.Financial terms were not disclosed. The deal is expected to close in the second half of the year.Cisco shares rose 36 cents to $20.62 in morning trading.Hi Fashion featuring Maria Lawson
Cisco to acquire smart grid metering co. Arch Rock
SAN JOSE, Calif. – Cisco Systems said Thursday that it plans to acquire Arch Rock Corp., a maker of wireless network equipment for smart grids, for an undisclosed amount.Cisco said Arch Rock will help Cisco with its smart grid applications for utilities. Arch Rock's technology is designed to allow utilities to connect smart meters and other devices over a secure, multi-way wireless mesh network. The deal complements Cisco's recent partnership with Itron to develop services that enhance smart-metering technology.Financial terms were not disclosed. The deal is expected to close in the second half of the year.Cisco shares rose 36 cents to $20.62 in morning trading.Hi Fashion featuring Maria Lawson