Causam Energy and Power Analytics Corporation, which both have offices in Raleigh, are combining in a deal disclosed Tuesday.
The two firms focused on software and solutions for the utilities industry.
Financial terms were not disclosed.
The two firms are part of a growing “cleantech” cluster in the Triangle region where a host of firms, from startups to established players such as ABB and Cisco, are attempting to cash in on smartgrid and other utility industry developments.
“Power Analytics’ products and people are the best in the business,” said Joe Forbes, Jr., CEO of Causam, in a statement. “Having a proven suite of high value products with a significant portfolio of intellectual property behind them, substantially greater resources and strong, experienced management, this new company is uniquely positioned to develop and deliver the critical solutions required by the impending next generation energy grid.”
Forbes will serve as CEO of the combined companies.
Power Analytics will operate as a wholly owned subsidiary of Causam.
Kevin Meagher, president and chief technology officer of Power Analytics, will serve as chief operating officer post-merger.
Power Analytics has offices in Raleigh and San Diego.
The combined companies say they will focus on communications and analytics solutions.
“Causam is an excellent strategic fit for us,” Meagher said in a statement. “This union empowers us to continue providing high-quality products and service to customers while adding resources to extend and enhance our existing products that will help our customers meet the demands of the rapidly evolving grid.”
Power Analytics is best known for its Paladin line of products with a specialty being so-called “microgrids.”
“Microgrids and other distributed energy resources hold great promise for improving energy reliability and security, balancing loads and reducing our dependence on fossil fuels,” Forbes said. “This combination will accelerate the introduction of additional grid solutions, improving access, grid security and data analytics.”