EnerNOC continues acquisitions, buys Pulse Energy
- Demand response provider EnerNOC has acquired Vancouver-based Pulse Energy, an energy analytics and engagement company helping utilities deliver targeted recommendations to reduce power use.
- EnerNOC said it purchased the company to help utilities better engage all of their commercial and industrial customers; the combined companies serve 54 utilities worldwide, GigaOm reports.
- Terms of the deal were not released, but EnerNOC said the acquisition will be dilutive to earnings in 2014 and 2015 as the company plans to make investments in its utility offerings as part of the integration.
It has been a strong year of acquisitions and investments at EnerNOC. A month ago the company announced it would acquire World Energy Solutions, a provider of energy management technology and services, for $76 million in cash. And in the first quarter, the company snatched up Dublin-based Activation Energy and Entelios AG in Munich, both demand response providers in Europe.
Tim Healy, chairman and CEO of EnerNOC, said the combination with Pulse allows the companies to offer utilities the "only integrated platform purpose-built to engage utilities' entire commercial and industrial customer base ... This acquisition strengthens EnerNOC's software product offerings for utilities and significantly increases our addressable market."
EnerNOC said the deal will allow utilities to improve customer satisfaction and brand loyalty, capture the value of demand-side flexibility and achieve energy efficiency targets while reducing the cost to serve and increasing operational efficiency.
"The integration of EnerNOC and Pulse gives utilities a single platform to deliver unparalleled value to their entire commercial and industrial customer base," said David Helliwell, co-founder and CEO of Pulse Energy. "This partnership brings together two companies that have a long-standing, proven track record delivering high quality products and services to utilities and their customers."
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