Power-One, Inc. (Nasdaq: PWER), a provider of power inverters, announced Wednesday that it has acquired Fat Spaniel Technologies, Inc., a provider of lifecycle management software for renewable energy assets.
Financial terms of the transaction were not disclosed.
Power-One will add Fat Spaniel’s monitoring and reporting technology to its solar inverters, to provide a more complete package to solar development customers.
Power-One’s inverters provide a single point of control between solar
panels and the grid. By integrating Fat Spaniel’s remote monitoring and
asset management solution, Power-One increases the value of its
inverters to its customers, capitalizes on a faster go-to-market
strategy and gains a larger U.S. and global customer base. The transaction also addresses Power-One’s goal to strengthen its R&D team by adding experienced software engineers.
Dr. Alex Levran, President of Renewable Energy Solutions at Power-One, said: "This acquisition expands our broad array of features that provide greater system control and yield for our customers and enhances the value of Power-One’s inverters as we expand our market opportunity and continue to gain share."
Fat Spaniel’s software provides insight into revenue-generating renewable energy assets. The solutions identify and address problematic assets, allowing energy producers to increase energy harvest and performance ratios, cut the costs of operations & maintenance, reduce operational and financial risk, and improve return on investment. Fat Spaniel’s web-based, automated monitoring and reporting software operates on a Software as a Service (SaaS) platform.
Power-One will continue to serve Fat Spaniel’s customers and host its existing software solution.
In addition to power inverters, Power-One also designs and manufactures products for routers, data storage and servers, wireless communications, optical networking, semiconductor test equipment, industrial markets and custom applications. The company has headquarters in Camarillo, California, and global sales offices, manufacturing, and R&D operations in Asia, Europe, and the Americas.
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