Franklin Electric Announces Acquisition of GridSense Assets
July, 12 2016 Franklin Electric Co., Inc. (NASDAQ:FELE) announced today that it has completed the purchase of the assets of GridSense Inc., a Colorado corporation, specializing in advanced remote monitoring solutions for distribution transformers, overhead and underground distribution lines, and other hard-to-reach assets. GridSense products will now be sold through INCON Power Reliability Systems (PRS), a wholly owned subsidiary of Franklin Electric.
Travis Wood, INCON Director, commented:
"GridSense products are adaptive and easily retrofit to legacy assets. This niche is very familiar to us and fits with our mission. In addition to expanding our monitoring offering within our core utility substation markets, the product range gives us access downstream toward the end customer where there is excellent growth potential over the next several years."
INCON specializes in advanced remote monitoring solutions for high voltage circuit breakers in substations and load tap changers found on large power transformers.