Brookfield has acquired a 50% stake in Intellihub Group, a smart utility infrastructure-as-a-service company, for around A$1bn (€630m).

The transaction gives the business a total enterprise value of around A$3.4bn, based on equity value of A$2bn and about A$1.4bn in debt, a source told IPE Real Assets.

Intellihub is the only independent, dedicated multi-utility metering platform in Australia and New Zealand. It counts more than 30 leading utility retailers, including Origin Energy and Aurora Energy, among its clients, and operates more than 1m meters and 1.7m deployments in its pipeline.

Read more/Source: Real Assets