Leeds startup Hark Systems is to be acquired by a Nasdaq-listed tech giant.
Hark, led by CEO and co-founder Jordan Appleson, was founded in 2016. Its Software-as-a-Service platform enables enterprises to automatically control assets such as energy meters, building management systems and industrial systems.
Hark’s cloud and edge technology securely streams data from entire estates at an asset-specific level. Its customers include some of the largest supermarket chains in the UK.
Hark, featured on our EnviroTech 50 ranking in 2022, will join SolarEdge Technologies Inc, a $2 billion revenue smart energy technology company valued publicly at $16bn with 4,000 employees.
The firm is headquartered in Israel and California.
https://businesscloud.co.uk/envirotech-50-uks-most-innovative-green-technology-creators-for-2022/
The acquisition is subject to certain customary closing conditions and regulatory approvals and is expected to close during the second quarter of 2023.
“SolarEdge has revolutionised how solar energy is harvested and managed and has deployed millions of smart energy management systems globally,” said Appleson.
“We are excited to be a part of the SolarEdge offering and join their global infrastructure to assist enterprises in the commercial and industrial market to manage their energy in a more efficient and sustainable way.”
SolarEdge said the acquisition will allow its customers to identify potential energy savings, detect anomalies in assets’ energy consumption and optimise energy usage and carbon emissions.
“Hark’s SaaS platform will enable us to grow our extensive commercial and industrial energy management portfolio and offer additional services to our C&I customers,” said Zvi Lando, CEO, SolarEdge Technologies.
“Coupled with our smart energy solutions, Hark’s advanced technological capabilities can provide enterprises with greater transparency and control of their energy usage and carbon emissions.”