SolarEdge, an Israel-based power electronics specialist, has agreed to fully acquire UK-based Hark Systems, which offers a software-as-a-service (SaaS) Internet of Things platform to manage and analyze commercial energy assets.
SolarEdge said the acquisition will provide its commercial and industrial (C&I) customers with better connectivity and energy management capabilities. It will help companies to identify potential energy savings, detect anomalies in the energy consumption of key assets, and optimize energy usage and carbon emissions through load orchestration and storage control, according to a SolarEdge statement.
“Hark’s SaaS platform will enable us to grow our extensive commercial and industrial energy management portfolio and offer additional services to our C&I customers,” said Zvi Lando, the CEO of SolarEdge. “Coupled with our smart energy solutions, Hark’s advanced technological capabilities can provide enterprises with greater transparency and control of their energy usage and carbon emissions.”
Hark Systems claims it customer base currently includes some of the largest supermarket chains in the United Kingdom. The acquisition is subject to customary closing conditions and regulatory approvals and is expected to close in the second quarter of 2023.
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