Wärtsilä has announced that it has signed an agreement to acquire Greensmith Energy Management Systems Inc., a leader in intelligent energy storage technology and solutions.
Wärtsilä believes that the acquisition will enable the company to expand its footprint in the energy storage market and position itself as a leading global energy systems integrator.
The closing of the transaction is subject to US regulatory approvals. Ownership of the company will be transferred to Wärtsilä after closing of the transaction, which is expected to occur no later than July 2017.
Greensmith specialises in energy storage optimisation and integration software. The company has developed an energy management software system called GEMS, which is currently offered in its fifth generation, as well as a Commercial and Industrial (C&I) and micro-grid solution called OMNI4.
Javier Cavada, President at Wärtsilä Energy Solutions, said: "Together with Greensmith we will become a global energy systems integrator. Greensmith provides unparalleled software and energy storage knowledge and we provide our global footprint, EPC expertise and large sales network. A perfect match.”
John Jung, CEO of Greensmith, added: "The combination of Greensmith's proven technologies and Wärtsilä's global footprint in advanced energy and power plants - will fuel significant growth in both integration and solutions market."
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