PHOENIX – August 28, 2013 – FATHOM Water Management Holdings, LLP (“FATHOM™”) announced today that it has solidified its position as the leader in the Smart Grid for Water through the acquisition of all of the assets and intellectual property (IP) of the Total Water Enterprise platform from Smart Earth Technologies (“SET”). The acquisition expands the FATHOM meter data management services to over 3.5 million meters in the U.S.
Combining the strengths of the SET data acquisition platform and the FATHOM geospatial customer information system (CIS) will provide a platform for increased services and support for our utility partners. This acquisition enables FATHOM to extend its data collection, analysis and management forward, allowing FATHOM to operate simultaneously with multiple metering systems and configurations.
Mr. Trevor Hill, Executive Chairman of FATHOM, stated, “We are extremely excited about the potential that SET brings to FATHOM. We see the technology as instantly complementary to the FATHOM vision and advancing the industry by bringing economies of scale to a fragmented market. Utilities of all sizes now have the ability to manage a fleet of different kinds of sensors, meters and meter reading technologies. Through FATHOM, that data is available to FATHOM CIS, other CIS systems, or other operational systems to allow utilities to better manage their business. The FATHOM/SET platform, along with our combined teams, will accelerate FATHOM business objectives in North America, and will open our services to new prospects nationally and internationally.”
“Our technology will integrate seamlessly into the FATHOM platform and instantly provide utilities a way to harness the power of AMR and AMI data in their operations,” stated David Duncan, former CEO of SET. Mr. Duncan will join the FATHOM senior leadership team as part of the transaction.
“We believe that FATHOM is one of the leading companies in the Smart Grid for Water space with its proven water utility CIS platform,” said David Henderson, Managing Director at XPV Capital and investor in FATHOM. “This acquisition will further accelerate the adoption, impact and value of ‘big data’ in our fragmented sector, and we believe it signals rapid change in the ways that water utilities will operate in the future.”
FATHOM is an integrated suite of advanced technologies proven to increase revenue, decrease costs and bring heightened efficiencies to water utilities. FATHOM OS is the world’s first geo-spatial, cloud-based CIS and provides Software as a Service to 22 utilities in Arizona, California and Texas. FATHOM puts water management tools in customers’ hands. www.gwfathom.com
About Smart Earth Technologies
Smart Earth Technologies delivers Total Water management technology and services to water utilities that seek to evolve their meter reading strategies beyond AMR/AMI to include a complete standards-based water distribution monitoring and control solution. Advanced metering, support for multiple device type connections, and the most advanced software solutions for managing water distribution networks are all part of the SET Total Water Platform. www.smartearthtechnologies.com
For more information, please contact:
Executive Chairman – FATHOM