The boards of directors at Southern Company and PowerSecure International recently agreed to a merger deal in which PowerSecure will becomes a wholly owned subsidiary of Southern.
Southern plans to use this purchase to advance its distribution of infrastructure technologies, which are PowerSecure's specialty, to help satisfy its power customers' future energy needs.
"As energy technologies and customer expectations continue to evolve, the electric utility business model is increasingly expanding beyond the meter," Thomas Fanning, Southern's chairman, president and CEO, said. "Today, there is demand for distributed infrastructure solutions that best meet each customer's unique energy needs. With the addition of PowerSecure to Southern Company, we're extending our commitment to create America's energy future by tapping into industry-leading expertise to deliver cutting-edge solutions to energy consumers nationwide."
Both companies see the potential in complementing each other's strengths.
"Southern Company has earned a reputation as one of America's premier utilities by deploying its technical expertise and financial strength to best serve customers," Sidney Hinton, CEO of PowerSecure, said. "These attributes, combined with Southern Company's nationally recognized customer service, make Southern Company the ideal partner for PowerSecure to deliver even greater value to our customers. We are incredibly excited about the potential to accelerate and expand our business as part of Southern Company as we continue to serve our data center, hospital, utility and other customers."