Acorn Energy expands generator monitoring with a $3.5 million acquisition

Acorn Energy’s ($ACFN) OmniMetrix subsidiary acquired substantially all the assets of Generator Solutions, the business behind the Gen-Tracker brand, for $3.5 million. It paid $1 million at closing, with the balance spread over five years. The acquired business brings approximately $1.1 million in recurring annual monitoring revenue and $400,000 in annual equipment sales.

Gen-Tracker monitors standby-generator readiness through automatic transfer switches rather than relying on the generator’s engine controller. That gives OmniMetrix another way to serve older equipment and mixed-brand fleets alongside its existing controller-based diagnostics. The acquired employees have joined the buyer, and the transaction includes customer accounts, technology, dealer relationships and inventory. This is a completed asset purchase disclosed after closing, not simply a partnership or a nonbinding acquisition proposal.

Sources:

• Acorn Energy — Gen-Tracker acquisition announcement