Silver Springs acquires Greenbox Technology

Redwood City, Calif., September 22, 2009 – Silver Spring Networks, a smart grid solutions provider, entered into an agreement to acquire Greenbox Technology, a provider of web-based energy management software.

The Greenbox interactive energy management web portal, built by the creators of FlashTM, delivers on a key benefit of the smart grid – enabling consumers to track, understand and manage their energy usage more efficiently.

“We’re thrilled to have the distinguished Greenbox Technology team join us,” said Judy Lin, Chief Product Officer of Silver Spring Networks. “We are working with utilities to build the platform for a smarter grid. This acquisition allows Silver Spring to provide another critical application: a smart and intuitive energy-management portal. The Greenbox technology also allows consumers to engage in time-of-use and other smart grid-enabled energy-saving programs.”

Silver Spring’s Smart Energy Network is an IP-based network technology that creates an end-to-end communications platform for the smart grid. Both companies’ use of IP-based, open web interfaces and standard data-access techniques simplifies the delivery of a consumer energy portal that easily integrates with the utility’s back-office systems, making deployment faster and more cost effective.

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