Direct Energy Acquires Panoramic Power, Provides Streamlined Energy Management Solutions
HOUSTON, TX: Direct Energy, a subsidiary of Centrica – the electricity and gas provider, announces the successful take over of Panoramic Power for an estimated 60 mn U.S.dollars. The acquisition is built up on an existing exclusive partnership between the firms.
Direct Energy’s acquisition of Panoramic Power will provide customers with energy insights like unpredictable device failures and energy infrastructure ROI.
Panoramic Power offers customers a wireless and self-powered circuit technology with cloud based analytics. They get a real-time visibility into their business operations through energy insights, enabling them to lower energy consumption and operating cost and increase operational efficiency.
"I look forward to Direct Energy's integration of Panoramic Power into their successful business model for commercial customers, leveraging the market footprint of Direct Energy to scale and grow our vision." said Yaniv Vardi, CEO, Panoramic Power.
With industries leaning towards centralized energy management solutions with a focus on automated energy data collection and reporting, this take over is a tactical move by Direct Energy to become the front runner in providing energy management solutions.