Deals: Opower Plans IPO; Alpha Technologies Buys NavSemi Energy
Opower, a Virginia company that helps electric utilities create energy efficiency programs, is nearing an initial public offering of its shares, reports the Wall Street Journal. The IPO could occur in the next few months. The newspaper learned that Opower has hired Morgan Stanley and Goldman Sachs Group to lead the underwriting of an IPO.
Alpha Technologies, a manufacturer of advanced power systems for energy applications, has acquired India-headquartered NavSemi Energy, a company that maximizes energy from individual solar panels. NavSemi’s Solar Management Unit, for example, is a product that retrofits a UPS system with PV and solar power, making it possible for anyone who has already made such a system investment to upgrade into a renewable energy system. NavSemi’s customer base in India expands Alpha’s reach into the country and complements Alpha’s renewable energy brand, OutBack Power, according to Alpha Technologies.
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