Generac To Acquire ecobee

Generac Holdings Inc., a global designer and manufacturer of energy technology solutions, plans to acquire ecobee Inc., a company that develops smart home solutions. ecobee was founded in 2007 in Toronto, ON, in the smart thermostat market. The company currently offers several ENERGY STAR-certified thermostats and a suite of home monitoring products. Generac says ecobee’s solutions are an important addition to its residential technology portfolio and “the ability to combine ecobee’s cutting-edge technologies with Generac’s power generation, energy storage, and energy management devices will allow us to create a clean, efficient, and reliable home energy ecosystem that will not only save homeowners money, but also help grid operators meet the challenges of an electrical grid under enormous stress by providing solutions to better balance supply and demand,” says Aaron Jagdfeld, president and chief executive officer of Generac. The acquisition is expected to close during the fourth quarter.