Vancouver’s Pulse Energy has been acquired by Boston based EnerNOC for an undisclosed amount in a stock-and-cash transaction.
Vancouver based Pulse Energy sells energy intelligence software to utilities, which then offer the service to industrial and business clients to help manage energy consumption and reduce energy bills.
Pulse Energy cofounder and CEO David Helliwell, who will stay on as the lead for EnerNOC’s Vancouver division, told Business in Vancouver that 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.”
EnerNOC chief executive Tim Healy told the Boston Globe that he expects the acquisition to help expand Pulse’s workforce and add to EnerNOC’s team in Boston, where the company employs about 500 of its 1,150 workers. “We’re probably going to look to hire both in Vancouver and in Boston to help grow this part of the business,” he said.
Pulse Energy was founded in 2006 by Helliwell and former Crystal Decisions CEO Greg Kerfoot and currently employees 70.