Cooper Industries, Ltd. has announced the acquisition of Cybectec, Inc., a privately held worldwide provider of products and software systems designed to assist utilities in modernizing their automation systems with revenues of $9.9 million (Canadian dollars) over the past 12 months.
Cybectec will become part of the Cooper Power Systems division of Cooper Industries. With this acquisition, Cooper Power Systems expands its ability to provide customers enterprise-wide solutions allowing secure access to both operational and non-operational electrical system data. Financial terms were not disclosed.
Cybectec provides solutions that 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 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. Cannon’s automation technologies for monitoring, metering and energy management are used by over 400 utilities.