Wärtsilä has signed an agreement to acquire Greensmith Energy Management Systems Inc. (Greensmith), for an undisclosed amount. The closing of the transaction is subject to US regulatory approvals. Ownership of the company will be transferred to Wärtsilä after closing of the transaction which is expected to occur no later than July 2017.
"Together with Greensmith we will become a global energy systems integrator. Greensmith provides unparalleled software and energy storage knowledge and we provide our global footprint, EPC expertise and large sales network. A perfect match," says Javier Cavada, President at Wärtsilä Energy Solutions.
"We are very excited to become a key part of Wärtsilä, a global leader in advanced energy solutions,” said John Jung, CEO of Greensmith. “The combination of Greensmith’s proven technologies and Wärtsilä’s global footprint in advanced energy and power plants - will fuel significant growth in both integration and solutions market."