France's Schneider Electric (SCHN.PA) signed an agreement to buy closely held U.S.-based energy procurement company Summit Energy Services for $268 million. Schneider is spearheading an effort to increase its presence in energy services and smart grids, technology which regulates the flow of electricity into people's homes and businesses, and said last year it was hunting acquisition targets. [ID:nWEA6787] Schneider said on Thursday the Summit purchase, still subject to regulatory approval, should help the company compliment its efforts in the field of energy auditing and monitoring.
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