EnOcean accelerates its growth through the acquisition of edge computing solutions business from Renesas #IoT - The Entrepreneurial Way with A.I.


Wednesday, October 12, 2022

EnOcean accelerates its growth through the acquisition of edge computing solutions business from Renesas #IoT


Oberhaching, Germany, 10 October 2022 – EnOcean, the provider of energy harvesting IoT devices and sensor-to-cloud solutions, is announcing the acquisition of the assets of the edge computing solutions business from the Renesas Electronics Corporation. The deal includes the transition of personnel as well as hardware and software products and was closed on the first day of October.

Rising energy costs and a growing demand for sustainable solutions provide tremendous opportunities for EnOcean. EnOcean’s solutions are helping customers to reduce energy consumption and their carbon footprint in a large number of installations. EnOcean provides a combination of energy-harvesting sensors and cloud-based software that enables a deep understanding of building operation and utilisation. Integration of the edge computing solution will additionally provide access to data from the existing building infrastructure such as heating, cooling, and lighting systems. These insights will not only allow for a reduced carbon footprint and lower energy bills but will also enable companies to be much more efficient in the use of their assets and real estate.

Commenting on the acquisition, EnOcean CEO Raoul Wijgergangs says, “EnOcean has always been very keen on delivering innovative and sustainable solutions that have a real benefit for companies by creating energy-efficient, flexible, and overall better buildings. This acquisition brings us, our partners, and our customers one step closer to a carbon-neutral future. Our combined solution, including the SmartServer IoT and IoT Access Protocol (IAP) software, enables customers to leverage existing data that is already being generated in their buildings, machines, or other devices for a wide range of applications.

This data can be augmented by additional energy harvesting and traditional sensors as needed to provide a comprehensive view. The solution enables understanding, control, interaction, and optimisation of buildings and devices. Insights gained from sensor data can be applied directly to drive actions to improve efficiency. Furthermore, the talented team has a wealth of experience in software that bridges the gap between the existing HVAC and lighting systems in buildings and the cloud in an open and standardised way. We also expect that our go-to-market channels will be complementary, and that our combined businesses will be better together.”

Apurba Pradhan, business unit director industrial edge computing at Renesas, adds, “I see tremendous opportunities in merging the channels of our two companies and I’m delighted that we’re joining a company that’s as dedicated to our market as we are. Together, we’re building on our technologies to provide solutions for smart buildings that focus on sustainability, waste reduction, and occupant experience. We’re excited about this shared journey on which we provide a seamless solution that paves the way for sustainable, maintenance-free, and cost-effective IoT solutions, and I’m certain that we’ll see very good growth opportunities for the two companies together.”

Acuity Advisors facilitated the deal and supported EnOcean during the transaction phase.

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October 12, 2022 at 09:09AM by Shriya Raban, Khareem Sudlow