Advised on Sale of CompanyEnergy & Utilities
Acquired 100% of Assets
Arkados is a public company that provides unique software and systems that enable Internet of Things (IoT) applications for both commercial and industrial customers. The Company's solutions are uniquely designed to drive a wide variety of wireless and powerline communication (PLC)-based products, such as sensors, gateways, video cameras, appliances and other devices.
The combination of SolBright with Arkados allows both companies to unlock value by cross-selling their complimentary services to a loyal and growing customer base. When combined, the two entities' solutions will not only generate power, but they will also monitor, manage, and optimize power generating assets.
Patrick Hassell, SolBright's CEO, said "I considered the significant opportunity ahead of SolBright, and I felt like it was the right time to partner with a company that would allow us to continue to meet our strict service standards for our clients while also meeting the growing demand for enhanced, data-driven services."
Terrence DeFranco, CEO of Arkados, said "When combining our existing proprietary solutions with SolBright's proven solar capabilities, the synergies that are created for our customers are extremely unique. We are very excited to be able to offer our customers this unique combination of value-added solutions."