Pulse Energy, a Vancouver energy intelligence software developer, has been acquired by Boston based EnerNOC Inc. (Nasdaq: ENOC) for an undisclosed amount.
Pulse Energy developed software that it sells to utilities, which then offers the service to its industrial and business clients to help manage their energy consumption and reduce energy bills.
It uses big data analysis of energy consumption for things like demand side management. BC Hydro, FortisBC and British Gas are among its customers.
EnerNOC is in a similar business, but on a larger scale, providing cloud-based energy intelligence to large enterprise customers around the world.
Pulse Energy co-founder and CEO David Helliwell, who will stay on as the lead for EnerNOC’s Vancouver division, said the merger made a lot of sense.
“It just became really clear to both of us that we filled gaps in one another’s offerings really well,” Helliwell told Business in Vancouver. “For Pulse to get to where we want to go, we can do it way faster alongside EnerNOC than we could on our own.”
Pulse Energy was founded in 2006 by Helliwell and former Crystal Decisions CEO Greg Kerfoot. It employs 70 people.
Helliwell said the local workforce will not only stay in Vancouver, but will grow, thanks to the acquisition. The Pulse Energy team will assume all of EnerNOC’s business that deals directly with utility companies.
“Next week we’ll be posting close to a dozen jobs on our website for new positions,” Helliwell said.