Houston, TX, Jan. 31, 2007 — Cooper Industries Ltd. announced the acquisition of Cybectec Inc., a privately held provider of products and software systems designed to assist utilities in modernizing their automation systems. Cybectec will become part of the Cooper Power Systems division of Cooper Industries.
With the acquisition, Cooper Power Systems hopes to expand its ability to provide customers enterprise-wide solutions allowing secure access to both operational and non-operational electrical system data. The financial terms of the deal were not disclosed.
Cybectec provides solutions that aim to meet utilities’ most demanding real-time and reliability requirements in a number of areas, including electrical power substation automation, integration, communication and instrumentation. Its Substation and Enterprise Solutions are designed to help utilities integrate substation controls into a cohesive automation system, providing complete, enterprise-wide access to substation data in a highly secure environment. Cybectec’s flagship product, the Substation Modernization Platform Gateway (SMP) is a communications device that concentrates and processes data in utility substations.
“The need to expand and update the automation capabilities of utility systems is widely recognized,” said Cooper Industries Chairman and Chief Executive Officer Kirk S. Hachigian. “Cybectec expands Cooper Power Systems’ capabilities in this area with new products, software solutions, and expertise that will simplify the automation process for our customers. Not only are Cybectec’s offerings ideal for new installations, they are particularly well-suited for modernizing and integrating legacy equipment.”
The acquisition of Cybectec and the recently announced acquisition of Cannon Technologies Inc. are part of a series of technology investments Cooper has made to broaden its range of energy automation capabilities.
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