LONDON--British utility company Centrica PLC (CNA.LN) said Thursday it will acquire a Israel-based energy management solutions company for $60 million.

The company's unit Direct Energy is acquiring Panoramic Power, which installs wireless and self-powered circuit level technology for business customers and provides them with cloud-based analytics.

The deal is expected to close by year end.

Shares of Centrica at 1003 GMT trading 1.4% lower at 212 pence.

Write to Tapan Panchal at tapan.panchal@wsj.com

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(END) Dow Jones Newswires

November 12, 2015 05:20 ET (10:20 GMT)

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