Belkin Acquires Zensi, Signaling Entry into Energy Conservation Market
Belkin International, Inc. announced that it has completed its acquisition of Zensi a developer of technology that senses and monitors energy use.
Indicating a greater commitment in energy management, this strategic acquisition is part of Belkin’s expansion of its current Conserve energy management product portfolio. Belkin Conserve products, available worldwide, currently enable energy conservation in both homes and offices. Later this year, Belkin will introduce additions to its Conserve line, bringing more solutions for managing energy in the home.
Zensi’s product portfolio includes exclusive licenses to patent-pending technology developed at the School of Interactive Computing at the Georgia Institute of Technology and in the Computer Science & Engineering and Electrical Engineering departments of the University of Washington. Inventors and professors Shwetak Patel (University of Washington), Matthew S. Reynolds (Duke University), Gregory Abowd (Georgia Tech), and PhD candidate Erich Stuntebeck (Georgia Tech) are all Zensi co-founders. Patel and Reynolds will now contribute their expertise as consultants to Belkin’s technology development efforts. Zensi co-founder and CEO Kevin Ashton joins Belkin as General Manager of the new Conserve business unit.
Mark Reynoso, CEO and President, Belkin, said, ’I am very excited about our vision to help people make better, more informed decisions about their energy use. Zensi’s technology furthers our ability to create powerful yet elegant energy management solutions.’
Kevin Ashton, General Manager ’ Conserve, Belkin, and former CEO, Zensi, said, ’There were a number of companies seeking to acquire Zensi. Belkin won out because its incredible user-experience, design, manufacturing, and distribution capabilities were the perfect complement to our advanced energy monitoring technologies. Our founders and shareholders are very excited to be bringing Zensi’s technology to market exclusively via Belkin’s new Conserve business unit.’