Jan. 15, 2015: EnerNOC Completes Acquisition of World Energy Solutions
Acquisition Increases Energy Procurement Functionality and Grows Enterprise Customer Base
BOSTON — EnerNOC Inc., a provider of energy intelligence software (EIS), announced that it has closed its acquisition of World Energy Solutions Inc., an energy management software and services firm that helps enterprises simplify the energy procurement process through a suite of software-as-a-service (SaaS) tools. To date, World Energy has transacted more than $45 billion in electricity, natural gas, and environmental commodities for its customers, making it one of the top energy procurement specialists in the U.S. by revenue and volume.
“We’re excited to finalize the acquisition of World Energy Solutions, shift our focus to the integration of our product platforms and teams, and deliver additional value to our enterprise customers,” said Tim Healy, chairman and CEO of EnerNOC.
EnerNOC acquired World Energy for a purchase price of $5.50 per share, and the assumption of debt, for a total transaction value of approximately $77 million in cash. The acquisition is expected to provide EnerNOC with approximately $30 million in incremental annual recurring revenue (ARR), giving the company approximately $50 million of ARR from enterprise customers. The acquisition is expected to be accretive to EnerNOC earnings in 2016.
EnerNOC’s energy intelligence software for enterprise customers is designed to improve energy productivity by optimizing how they buy, how much they use, and when they use energy. EIS for enterprises includes supply management, utility bill management, facility optimization, visibility and reporting, project management, demand management, and demand response. EnerNOC’s EIS for utilities helps maximize customer engagement and the value of demand-side resources, including demand response and energy efficiency.
For more information, visit www.enernoc.com.
Publication date: 1/12/2015