Silver Spring Steals Exec From Cisco

Silver Spring Networks has nabbed a somewhat high-level executive from Cisco Systems, according to sources. We understand it is not a technical exec, but still an interesting tidbit in the looming conflict between these two companies.  The announcement is expected soon.

To recap the drama: Silver Spring makes technology for allowing meters to communicate to utilities. The heart of the company's technology is a networking card. It can be fit into a meter or into equipment at a utility station. The company has signed a massive contract with PG&E to install millions of meters in California. It has been one of the most successful companies in raising VC funds over the past two years.

Cisco, of course, is the king of IT networking and earlier this year unfurled its strategy to get into the energy management and smart grid markets. Cisco will start by controlling power in phones and networking equipment with its GridWise software platform, but will ultimately move into controlling power in buildings.  Both companies are working with Florida Light and Power on a million meter project in Miami. Cisco bought Richards-Zeta Building Intelligence in January and more are expected (I predict Verdiem will be one of the next it will buy).

Although the two could become allies, they also seem to be shaping up to be competitors. Should be an interesting show.