Pittsburgh's BPL Global, a smart grid technology company, said today it acquired Hillsboro, Ore.-based Serveron, which makes on-line transformer monitoring products and offers diagnostic services.

Financial terms of the deal were not disclosed, but Serveron backers Siemens Venture Capital and Perseus will each get a spot on BPL's board as a result of the acquisition.

Serveron will become a division of BPL and maintain its headquarters in Oregon.

"Joining forces with Serveron is an exciting milestone for us," said Keith Schaefer, CEO of BPL. "Utilities have a strong interest in suppliers with comprehensive smart grid solutions and Serveron complements and broadens our offering."

The company said Serveron's solutions help utilities avoid transformer failures and blackouts, reduce maintenance costs and defer capital expenditures by extending the useful life of transformers.

The cost of purchasing new power transformers can range from $500,000 to more than $6 million each, according to BPL.

"Together, Serveron and BPL Global can deliver innovative smart grid solutions that span utility generation, transmission and distribution applications," said Bart Tichelman, CEO of Serveron.

BPL, which has a presence in the U.S., Europe and the Middle East, said it significantly expands its international footprint with this deal, particularly in Asia, Latin America and South Africa.