EnerNOC Buys Utility Bill Management Firm
EnerNOC has entered into an agreement to acquire EnTech, a provider of global utility bill management software.
EnTech says 50 enterprises, including companies in telecommunications, consumer products, banking, and auto manufacturing use its utility bill software. EnerNOC says the acquisition is consistent with its strategy to diversify beyond demand response.
EnTech generates about $10 million in revenue annually and has offices in eight countries. It is headquartered in the United Kingdom and operates a software development center in Mumbai, India.
The transaction is expected to close this month.
In February, EnerNOC funded the Series A round of financing of San Francisco-based Genability, a software company that licenses its database of electricity tariffs for use with third-party products such as energy intelligence software (EIS). EnerNOC says by connecting Genability’s tariff engine to its EIS applications, businesses will be able to see energy savings articulated in dollars instead of kilowatt hours.
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