Causam Energy to Acquire Power Analytics
Causam Energy, Inc., headquartered in Raleigh, today announced a definitive agreement to acquire Power Analytics Corporation, a privately held software and professional services company with offices in San Diego and Raleigh. Power Analytics' innovative software products solve complex power and energy problems, and in combination with Causam will accelerate the development of advanced communications and analytics solutions for the electric power grid. Financial terms were not disclosed.
â€œPower Analyticsâ€™ products and people are the best in the business,â€ said Joe Forbes, Jr., CEO of Causam. â€œHaving a proven suite of high value products with a significant portfolio of intellectual property behind them, substantially greater resources and strong, experienced management, this new company is uniquely positioned to develop and deliver the critical solutions required by the impending next generation energy grid.â€
Power Analyticsâ€™ PaladinÂ® platform will be a core component in the development of additional applications covering real-time communication, advanced energy settlements, distributed generation and intelligent analytics. Causam brings a state of the art design center, additional resources that will enable rapid product development, and a management team that has successfully scaled a number of technology companies.
â€œCausam is an excellent strategic fit for us,â€ added Power Analytics President and Chief Technology Officer Kevin Meagher. â€œThis union empowers us to continue providing high-quality products and service to customers while adding resources to extend and enhance our existing products that will help our customers meet the demands of the rapidly evolving grid.â€
â€œMicrogrids and other distributed energy resources hold great promise for improving energy reliability and security, balancing loads and reducing our dependence on fossil fuels,â€ continued Forbes. â€œThis combination will accelerate the introduction of additional grid solutions, improving access, grid security and data analytics.â€
Post-merger, Power Analytics will operate as a wholly-owned subsidiary of Causam, with Meagher becoming chief operating officer. Forbes, Taylor Brockman and David Bass will serve as CEO, CTO and CFO, respectively, for both Causam and Power Analytics.