Power-One Acquires Fat Spaniel Technologies, Expanding Power Management Capabilities for Renewable Energy Producers
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CAMARILLO, Calif., Oct. 6, 2010 - Power-One, Inc.(Nasdaq:PWER), a leading provider of renewable energy and energy-efficient power conversion and power management solutions, announced today that it has acquired the assets of Fat Spaniel Technologies, Inc., a leading provider of lifecycle management software for renewable energy assets. The acquisition extends Power-One's performance and technology advantage with its award winning inverters, while providing its customers with a stronger feature-set and enhanced system control to manage renewable energy assets, including solar installations. Financial terms of the transaction were not disclosed.
"Fat Spaniel is a market leader in enabling producers of renewable power to reliably and efficiently connect with the grid," said Dr. Alex Levran, President of Renewable Energy Solutions at Power-One. "This acquisition expands our broad array of features that provide greater system control and yield for our customers and enhances the value of Power-One's inverters as we expand our market opportunity and continue to gain share."
Power-One's inverters provide a single point of control between the solar panels and the grid and therefore represent a core asset in power generation system. By integrating Fat Spaniel's remote monitoring and asset management solution, Power-One increases the value of its inverters to its customers, capitalizes on a faster go-to-market strategy and gains a strong U.S. and worldwide customer base. The transaction also addresses Power-One's goal to strengthen its R&D team by adding experienced software engineers.
Fat Spaniel's software provides critical insight into revenue-generating renewable energy assets. The solutions identify and address problematic assets, allowing energy producers to increase energy harvest and performance ratios, cut the costs of operations & maintenance, reduce operational and financial risk, and improve return on investment. Fat Spaniel's web-based, automated monitoring and reporting software operates on a Software as a Service (SaaS) platform.
Power-One will continue to serve Fat Spaniel's customers and host its existing software solution.
To learn more about Power-One and its products and services, please visit www.Power-One.com. Also, please view Power-One's range of Aurora power inverters (Booth #4326) at the Solar Power International tradeshow from October 12-14 at the Los Angeles Convention Center.
About Power-One
Power-One designs and manufactures energy-efficient power conversion and power management solutions, including inverters for alternative/renewable energy (solar and wind) and products for routers, data storage and servers, wireless communications, optical networking, semiconductor test equipment, industrial markets and custom applications. Power-One, with headquarters in Camarillo, California, has global sales offices, manufacturing, and R&D operations in Asia, Europe, and the Americas. Power-One is a public company listed on NASDAQ under the ticker symbol PWER. For more information about the Company, please visit www.Power-One.com.
CONTACT:
Power-One, Inc.
For Sales
Kent Sheldon,
Vice President,
North American
Renewable Energy Sales
805-987-8741
Kent.Sheldon@Power-One.com
