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Origin Energy advised on sale of smart metering business
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Origin Energy advised on sale of smart metering business

Origin Energy had been advised on the sale, by competitive bid, of its Acumen smart metering business to intelliHUB.

Firm: Hive Legal (Origin Energy); Baker McKenzie and Clayton Utz (intelliHUB joint venture).

Deal: Hive advised Origin on the sale of Acumen, its smart metering business, to intelliHUB, which is to be jointly owned by Pacific Equity Partners and Landis + Gyr.

Value: $267 million.

Area: Corporate.

Key players: The Hive team was led by principals Jeremy Snow, Andrew Brookes and Joanna Green.

Deal significance: “Hive’s team is excited to have acted on these arrangements,” the firm noted in a statement.

“They represent a significant development in the competitive metering market in Australia’s National Electricity Market, following major metering regulatory reforms which came into effect in December 2017.”

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