Solaredge acquires Hark Systems, a European company specializing in energy analytics and IOT. Hark’s capabilities will, according to Solaredge executives, expand the monitoring and energy management capabilities Solaredge offers to its commercial and industrial customers.
Hark was established in 2016 in England and offers organizations a SAAS (Software as a Service) and IOT (Internet of Things) platform, which enables organizations and property owners to analyze and optimize their energy consumption in their commercial sites. Hark’s technology can be quickly deployed and activated in several commercial sites of the organization. Among Hark’s clients are companies from a variety of industries, including some of the largest and best-known grocery chains in Great Britain.
The purchase of Hark will allow Solaredge customers capabilities in energy management, including the identification of potential energy savings, identification of anomalies in the energy consumption of the properties as well as optimization of energy consumption and carbon emissions through load management and storage control.
Zvi Lando, CEO of Solaredge, said about the transaction: “Hark’s SaaS platform will allow us to further expand our extensive portfolio and offer additional services to our commercial and industrial customers. Hark’s advanced technological capabilities combined with our smart energy solutions can provide organizations with greater transparency and control over their energy consumption and carbon emissions.”
Completion of the acquisition is subject to certain customary closing conditions as well as regulatory approvals and is expected to close during the second quarter of 2023
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