M&A: Intelex Acquires Ecocion, Sungevity Merges with Easterly Acquisition Corp.
Big mergers and acquisitions news today with environment, health, safety and quality management developer Intelex Technologies acquiring environmental management information systems (EMIS) provider Ecocion. Meanwhile solar energy technology company Sungevity announced it is merging with asset management firm Easterly Acquisition Corp to become a publicly traded company.
Ecocion’s EMIS software helps businesses govern their environmental risk and compliance, regulatory requirements and greenhouse gas emissions reporting. The companies did not disclose the terms of the sale but Intelex says the funds are part of a $123 million investment Intelex received from JMI Equity and HarbourVest in 2015.
Intelex says the purchase “extends its reach as the largest independent vendor of EHSQ cloud-based software.”
Intelex is a leading EHS software provider, according to a Verdantix benchmark published earlier this year.
The report, Green Quadrant: EH&S Software 2016, said Intelex has the broadest and deepest product functionality and features of EHS software on the market.
Also today Sungevity, the largest privately held consumer solar energy technology company in the US and Easterly Acquisition Corp. said they have reached a merger agreement. After completion of the deal, the merged company will trade on the NASDAQ as Sungevity Holdings.
Financial details of the transaction were not disclosed.
The companies say the merger will “enhance Sungevity’s competitive position, accelerate its strategic development and cement its long-term growth opportunity.” Sungevity’s management team will remain with Sungevity Holdings under the leadership of current CEO and co-founder Andrew Birch.
In April, Sungevity and REC Solar announced a partnership that they said will make it easier for businesses, especially small- and medium-sized firms, that want to go solar.
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