Mercury Energy sells smart meter business for $270m

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Mercury New Zealand has sold its Metrix smart metering business to intelliHUB for $270 million.

Metrix, which currently has an installed base of around 460,000 smart meters, now adds to intelliHUB’s independently contracted and controlled meters. intelliHUB will now manage almost two million smart meters.

intelliHUB says the acquisition will significantly expand its smart meter footprint and its capability to roll out ‘innovative smart metering solutions in Australia and New Zealand’.

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