EMC Corp., the world’s biggest maker of storage computers, invested $24 million in smart-grid networking equipment maker Silver Spring Networks Inc. to accelerate joint development of smart-grid analytics services.
The companies will help utilities centralize data from networked devices to improve the reliability of their grids and cut costs, Redwood City, California-based Silver Spring and Hopkinton, Massachusetts-based EMC said today in a joint statement. The investment was disclosed in a regulatory filing.
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