SolarEdge, an Israel-based power electronics company, has agreed to buy Hark Systems in its entirety. Hark Systems provides a SaaS Internet of Things platform for managing and analysing commercial energy assets.
SolarEdge stated that the purchase will improve connection and energy management capabilities for its commercial and industrial (C&I) clients. According to a release from SolarEdge, it will assist businesses in identifying possible energy savings, detecting abnormalities in the energy consumption of essential assets, and optimising energy usage and carbon emissions through load orchestration and storage control.
SolarEdge’s CEO, Zvi Lando, commented, “Hark’s SaaS platform will allow us to expand our large commercial and industrial energy management portfolio and offer more services to our C&I customers.” “When combined with our intelligent energy solutions, Hark’s outstanding technology capabilities can give businesses with improved energy transparency and carbon emission management.”
According to Hark Systems, their current clientele includes some of the top grocery chains in the United Kingdom. The deal is expected to close in the second quarter of 2023, as long as all the usual closing conditions are met and regulatory approvals are given.
