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Austrian S&T AG to Purchase Echelon’s Smart Grid Operations

August 22, 2014

Acquisition signals expansion of Smart Energy capabilities

Echelon Corporation announced in August 2014 that it has signed a definitive agreement to sell its grid operations to S&T AG, a publicly traded Austrian IT systems provider with an existing focus on smart energy products and services. “Acquiring Echelon’s grid business means an important expansion of our Smart Energy capabilities, further demonstrating our commitment to the energy market and our belief in the smart grid opportunity,” said Hannes Niederhauser, CEO of S&T. “We look forward to combining Echelon’s successful Networked Energy Services (NES) platform offerings with S&T’s software, system integration and project delivery capabilities to serve smart energy customers throughout Europe and beyond.”

About S&T AG
S&T AG , with headquarters in Linz, Austria, is listed on the Prime Standard segment of the Frankfurt Stock Exchange. The company has approximately 1,550 employees and offices in 17 countries in Central and Eastern Europe. S&T is one of the three largest providers of IT systems in Austria and in Eastern Europe. One of S&T’s main assets is the exceptional breadth of its portfolio of products and services, many of which feature proprietary technologies. With areas of focus that include smart energy, cloud security and mobile IT, S&T supplies its portfolio throughout Central and Eastern Europe.