A FAST-growing technology firm has joined forces with one of the world’s largest electronics companies.

Darwen-based Bglobal has signed a ‘memorandum of understanding’ with Korean giant Samsung to work together on energy-measuring smart meters.

The move will see the two companies team up to install the devices across the UK.

It comes just months before the government is due to announce technical details and the timescale for a national roll-out of smart meters in a bid to make households and businesses more energy efficient.

The tie-up has been hailed by Bglobal chief executive Tim Jackson-Smith.

He said: “This is a major step forward for the group and we are extremely honoured that Samsung has chosen us to be its partner to develop a solution which will help to unlock the massive potential this market has to offer.

“We look forward to working closely with Samsung over the coming months.”

Bglobal and Samsung will together set up a joint company which will specialise in offering smart meters for rent to customers of energy suppliers.

The two firms believe there is enormous potential in the UK market, with 27million household energy meters and another 2million business meters that will need to be replaced in the near future.

Meanwhile, Bglobal had more cause for celebration today after signing a deal to supply meters to Northampton-based Opus Energy.

The agreement sent shares up slightly, by 1.5p to 36.75p.

Bglobal, which increased sales from £6.6million to £13.2million last year, employs 150 at its Commercial Road base. It also owns Chorley-based Utiligroup.