DALLAS, Jan. 21, 2002 — Hunt Power, L.P. announced today that it has acquired the assets and operations of E-MON Corporation, a manufacturer of electric meters and other energy hardware, software, and services aimed at the electric sub-metering industry.
The terms of the asset purchase agreement were not released but E-MON will keep its principle offices and operations in Langhorne, Pennsylvania and San Diego, California.
Company executives said the acquisition would complement the growth of both organizations as Hunt Power has focused its activities toward utilities while E-MON was focused more on the end-user market.
Hunt Power vice president, Daniel Price said, “We view E-MON as a complementary fit with Hunt Power and its subsidiaries. The synergies will allow us to offer the full slate of demand-side and billing solutions to both utilities and end users. We are very pleased with the new opportunities this will provide us.”
E-MON president Don Millstein said, “This acquisition provides E-MON with new resources and financial backing which will allow us to bolster our existing markets and to pursue new markets. Joining Hunt allows us to grow while still providing the quality products and customer service that E-MON customers have come to expect.”
Millstein said, “E-MON’s operations and sales channels will not be affected by the change. We will continue selling products that monitor energy consumption in commercial, apartment, and industrial buildings.”
Hunt Power, in addition to its new focus with E-MON products, will continue to provide solutions in the electric industry in the areas of traditional IPP generation, distributive generation, metering and information. Hunt Power’s other subsidiaries in metering include MeterSmart and Utility Data Resources, companies that provide services in remote meter data collection, data verification, and data presentation primarily for electric utilities. MeterSmart provides all metering functions for Sharyland Utilities, an electric utility based in McAllen, Texas.
For more information on E-MON please visit E-MON’s web site at www.emon.com. For more information about Hunt Power, please visit Hunt Power’s website at www.huntpower.com.