US private equity firm DigitalBridge, currently being acquired by SoftBank Group, has reached an agreement to purchase one of Australia's largest smart meter service providers from Ausgrid Group. The move comes amid surging demand for infrastructure tied to Australia's energy transition.

In an official statement, the American company confirmed that an investment vehicle managed by DigitalBridge has signed a deal to acquire PLUS ES, an independently operated entity within Ausgrid Group. This business delivers metering and data services to electricity retailers, utility companies, and grid operators, managing approximately 2 million meters across the national electricity market.

Australian households are emerging as a key driving force in the energy transition, creating an urgent need for infrastructure capable of monitoring and managing an increasingly decentralised power system. The nation leads the world in per-capita rooftop solar installations, with roughly 4% of homes equipped with residential battery storage. Smart meters provide the data and network connectivity essential for integrating these devices into the electricity grid.

Justin Chang, Senior Managing Director and Head of Asia-Pacific at DigitalBridge, commented: "PLUS ES sits right at the golden intersection of digital infrastructure and the energy transition."

The transaction remains subject to customary closing conditions, including regulatory approvals. The financial terms of the deal were not disclosed.