SolarEdge to Acquire Hark Systems, a European-Based Energy Analytics and IoT Company
Hark’s capabilities will develop SolarEdge’s international power monitoring and administration capabilities into the Business and Industrial segments.
LEEDS, United Kingdom and MILPITAS, California – January 3, 2023 – SolarEdge Applied sciences, Inc. (“SolarEdge”) (NASDAQ: SEDG), a world chief in good power know-how, introduced immediately that it has entered right into a definitive settlement to accumulate the complete share capital of Hark Methods Ltd. (“Hark”). Based in 2016 and primarily based in Leeds, UK. Hark presents a extremely versatile Software program as a Service (SaaS) Web of Issues (IoT) platform that permits companies and asset operators to attach, analyze and optimize industrial property and power of their industrial websites. Hark’s know-how permits fast deployment and commissioning at a number of websites. Hark’s buyer base is made up of a variety of industries, together with a few of the UK’s largest grocery store chains.
The acquisition of Hark is anticipated to allow SolarEdge to supply industrial and industrial (C&I) prospects worldwide expanded power administration and connectivity capabilities, together with figuring out potential power storage, figuring out anomalies in power consumption of property, and optimizing power use and carbon emissions by way of load orchestration and storage management.
“Hark’s SaaS platform permits us to develop our intensive industrial and industrial administration portfolio and supply extra providers to our C&I prospects,” stated Zvi Lando, CEO, SolarEdge Applied sciences. “Mixed with our good power options, Hark’s superior technological capabilities can present companies with larger transparency and management over their power use and carbon emissions.”
“SolarEdge is revolutionizing how photo voltaic power is harvested and managed and has deployed thousands and thousands of clever power administration programs worldwide. We’re excited to be a part of the SolarEdge providing and be a part of of their international infrastructure to assist companies within the C&I market handle their power extra effectively and sustainably,” stated Jordan Appleson, CEO and Co-Founder, Hark Methods.
The acquisition is topic to sure customary closing situations and regulatory approvals and is anticipated to shut within the second quarter of 2023.
