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Solaredge To Acquire Hark Systems, A European-Based Energy Analytics And Iot Company

Jan 03, 2023•over 2 years ago

Acquiring Company

SolarEdge Technologies

Acquired Company

Hark

HerzliyaNew YorkSolarRenewable EnergyEnergySoftware

Description

SolarEdge Technologies, Inc. (“SolarEdge”) (NASDAQ: SEDG), a global leader in smart energy technology, announced today that it has entered into a definitive agreement to acquire the entire share capital of Hark Systems Ltd. (“Hark”). Founded in 2016 and based in Leeds, UK, Hark offers a highly flexible Software as a Service (SaaS) Internet of Things (IoT) platform that allows enterprises and asset operators to connect, analyze and optimize industrial assets and energy in their commercial sites. Hark’s technology enables rapid deployment and commissioning across multiple sites. Hark’s customer base is comprised of diverse industries, including some of the largest supermarket chains in the UK.

Company Information

Company

SolarEdge Technologies

Location

Herzliya, Tel Aviv, Israel

About

SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. Established in 2006, SolarEdge developed the DC optimized inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge intelligent inverter solution maximizes power generation while lowering the cost of energy produced by the PV system, for improved RoI. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its diversified product offering, including residential, commercial and large scale PV, battery storage and backup solutions, EV charging, home energy management, grid services and virtual power plants, and uninterrupted power supply (UPS) solutions

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

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