Cisco Invests in Grid Net

Grid Net announced that Cisco has made an equity investment in the company

March 25, 2010

1 Min Read

SAN FRANCISCO -- Grid Net (www.grid-net.com), a global leader of real-time Smart Grid and Smart Home software platforms for utilities, their partners and their customers, today announced that Cisco has made an equity investment in the company.

Grid Net intends to use the proceeds from this investment to promote its real-time, all-IP, secure, reliable, extensible, end-to-end Smart Grid network infrastructure solutions. In addition, the investment highlights the two companies’ shared vision of creating an energy infrastructure for the 21st century that is built on open standards and helps utilities scale for more effective, efficient electricity transmission and distribution.

Grid Net said specifically the financing will be used to accelerate its cooperative efforts around product development, marketing, customer engagement, industry standards, and regulatory Smart Grid initiatives. Improved coordination and integration of advanced communications and smart grid networking technologies will foster solutions that remove the inherent risks and uncertainties associated with deploying single-vendor proprietary technologies.

Cisco Systems Inc. (Nasdaq: CSCO)

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