The boards of directors from Southern Company and PowerSecure International approved a definitive merger agreement, Southern said recently.
Under the deal, Southern Company will acquire PowerSecure, which will become a wholly owned subsidiary of the company.
Southern said distributed infrastructure technologies will help meet customers' future energy needs, and that PowerSecure specializes in these technologies.
Such technologies usually are in demand in markets outside of the Southeast, where they tend to provide the most customer value.
"As energy technologies and customer expectations continue to evolve, the electric utility business model is increasingly expanding beyond the meter," Southern Company Chairman, President and CEO Thomas Fanning said. "Today, there is demand for distributed infrastructure solutions that best meet each customer's unique energy needs.
The combined company stands to be better prepared to address reliability concerns and promote technological advances with a focus on the future.
The combination of one of America's leading energy companies and a successful, customer-focused provider of differentiated energy solutions and innovative energy infrastructure is designed to expand Southern Company's opportunities to provide customized energy products to customers.
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