BID Equity has completed acquisition of the eSight Energy Group, a global energy management software developer and solutions provider, for undisclosed amount.
Image: BID Equity makes new acquisition. Photo: Photo by rawpixel on Unsplash.
This acquisition enhances BID Equity’s position as an IoT (Internet of Things) provider focused on the energy sector. The transaction will enable the combining of eSight with other IoT portfolio companies including Z-Wave Europe, a leading developer and value-added distributor of smart devices.
Founded in 1998, eSight Energy develops the eSight energy platform which provides customers with unrivalled intelligence concerning their energy usage, enabling them to track and manage energy and other related building operations. With locations in the U.S., Europe and Asia, eSight is currently being used to monitor buildings in 60 countries and 17 languages.
“eSight’s acquisition by BID Equity represents an exciting new growth phase for the group. This investment is a strategic opportunity to significantly expand our business into new market segments and elevate our customer support and product development to the next level,” said Janie Jefferies-Freer, CEO of the eSight Group.
Dr. Helge Hofmeister, managing partner of BID Equity, said of the transaction: “We are taking a synergistic approach to leverage eSight Energy’s growth in conjunction with other firms in our portfolio, such as Z-Wave Europe. This approach will help eSight Energy to continue its organic growth while also developing and manufacturing fit-to-purpose hardware devices for energy management. This will enable eSight Energy to offer their customers a unique software-hardware product for managing energy consumption if they require easy-to-deploy one-stop-shop solutions.”
Source: Company Press release