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Direct Energy Signs Agreement to Acquire Panoramic Power®

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Direct Energy, through its parent company Centrica, announced Thursday that the company has signed an agreement to acquire Panoramic Power®, a global pioneer in energy management.

The acquisition is a perfect fit for Direct Energy as we continue to help our customers use and buy less of what we sell.

Panoramic Power has developed and patented wireless sensor technology that has been a game-changer in helping business customers better manage their energy use.  Panoramic Power’s wireless sensors deliver live energy information that customers can immediately act upon.

Watch this video to see how it works:

Panoramic Power complements our existing commodity and service relationships. It’s expected that Panoramic will uncover energy insights that can save our customers even more on their energy spend.

“Since Direct Energy Business began working with Panoramic Power in 2014, it was clear there was a positive synergy between our two companies,” Direct Energy Business President John Shultz said. “By using real-time data gathered from affordable wireless sensors, we enable businesses to optimize their energy consumption – ultimately helping them use and buy less of what we sell.”

The $60 million agreement is expected to close before the end of the month.  Learn more about Panoramic Power and look for more to come as we welcome the Panoramic Power family to ours. 

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Posted: November 13, 2015