Schneider Electric acquires Conzerv Systems
Schneider Electric, the US$20 billion electricity distribution and automation management major has inked a deal to acquire Bangalore-based energy management solutions company Conzerv Systems.
Conzerv Systems is a two-decade old firm with a top line of Rs70 crore run by a couple, Hema and Ashok Hattangady, supported by venture capital firm Indus Ventures, run by former Hindustan Lever chairman T Thomas.
The company which counts several majors like Pepsi, Lafarge and Hindustan Lever among its clients was started as Enercon and subsequently renamed Conzerv Systems when it actively took up efforts to offer solutions on how to manage the usage of electricity in an organisation.
The company, which started as a manufacturer of voltage stabilisers, later branched into production of digital meters by using advanced digital signal processors. It employs around 330 people and offers a range of solutions for energy audits and energy management systems.