Macquarie Group (ASX:MQG) shares were up almost 5% in recent Wednesday trade after the company said Tuesday that Macquarie Specialised and Asset Finance, part of its Commodities and Global Markets business, has signed an agreement with Igneo Infrastructure Partners European and Global Infrastructure Strategies to sell its Meter Asset Provider (MAP) platform, OnStream.

The company said in a statement that the transaction comprises a portfolio of more than seven million later-generation smart meters, mainly SMETS2, owned by OnStream and operating across the UK and Germany.

Upon completion, Igneo's Strategies will assume full control of OnStream and its core operations, financing the provision and installation of smart meters for energy suppliers in Great Britain and meter point operators in Germany, including OnStream's origination capabilities and contracted order book, per the statement.

Following the sale, Macquarie will continue to own about six million traditional and earlier generation smart meters in the UK, the company said.