HAMBURG, Germany, June 4, 2018 /PRNewswire/ -- BID Equity today announced its acquisition of the eSight Energy Group Ltd, a global energy management software developer and solutions provider (effective 23rd April '18).
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."
About eSight Energy
eSight Energy is a leading developer and supplier of energy management software. With its high degree of expertise in energy management software, the ambitious company headquartered in Cambridge, United Kingdom, creates sophisticated solutions for tracking and improving customers' energy consumption. eSight Energy serves their global customer base from offices in Cambridge, United Kingdom, Chicago, United States and Hong Kong.
The company's software solution offers a wide range of functionalities including tracking and analysing energy consumption, identifying and managing ECMs (energy conservation measures), tenant billing and many other building analytics targeted towards helping companies make informed improvements to building operational efficiency. eSight is able to analyse complex energy environments by taking energy and other related performance data from disparate systems into a single application.
About BID Equity
BID Equity is a next-generation private equity firm investing in successful mid-sized software businesses. We take majority stakes in shareholder buyouts and succession situations. Through our focus, we are able to be an active partner for entrepreneurs and management teams, believing in active long-term value creation that helps companies reach the next level of their development.
SOURCE BID Equity