Quick take: It has been apparent for years that metering companies had to look past the meters themselves for new areas of growth. For most companies that meant a) software, b) services or c) international sales. Sensus made inroads in all three areas

In January, Smart Grid News readers named Brazil's CAS Tecnologia (CAS) as one of the top 12 companies to watch in 2012. Apparently Sensus watched them long enough to decide they would nicely complement the company's growth strategy and has purchased a 15% stake.

Raleigh, NC-based Sensus made its name with smart meters and its own special flavor of communications. Since then it has diversified to grow into a leading provider of smart grid infrastructure for electric, gas and water. Its current thrust is to "accelerate our presence in targeted markets [and] expand our offerings in... smart water... and smart grid," said Sensus executive vice president Jose Antonio Hernandez.

CAS certainly fits that strategy. It is a regional leader, providing hardware, software and services for smart metering and distribution automation. For its part, CAS wants to use Sensus to expand beyond Latin America.  “We foresee great potential in markets where Sensus is an established utility solutions leader," said Welson Jacometti, President of CAS. "Our partnership... puts us in a unique position to take advantage of quickly developing smart grid and smart water opportunities worldwide."

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Brazil is driving the Latin American smart grid agenda. Will it leapfrog the U.S.?

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Jesse Berst is the founder and chief analyst of Smart Grid News.com, the industry's oldest and largest smart grid site. A frequent keynoter at industry events in the U.S. and abroad, he also serves on advisory committees for Pacific Northwest National Laboratory and the Institute for Electric Efficiency. He often provides strategic consulting to large corporations and venture-backed startups. He is a member of the advisory boards of GridGlo and Calico Energy Services.