Powerit Holdings Acquires Diana ControlJanuary 25, 2007
The two companies will combine to offer intelligent energy management systems for both industrial and commercial facilities.
SEATTLE, WA /PRNewswire/ -- Powerit Holdings Inc., owner of Powerit Solutions, LLC, announced that it has acquired Swedish company, Diana Control AB, manufacturer and distributor of intelligent energy management and building control systems. The agreement effectively merges Diana's commercial building control enterprise with Powerit's worldwide energy demand response ("DR") and demand management ("DM") business.
"Combining our companies allows us to offer organizations comprehensive centralized control solutions for both industrial and commercial facilities seamlessly," said Claes Olsson, president and CEO of Powerit Holdings and Powerit Solutions. "Diana and Powerit share the same technology and the system solutions are built on the identical platform so integration and support is straightforward."
Currently, Powerit focuses its technology in the industrial sector while Diana focuses in the commercial sector. The acquisition allows Powerit to offer customers in a global marketplace a comprehensive solution and an integrated approach to conserve energy, increase operating efficiency and save money by managing peak energy use and building comfort throughout a customer's facilities— commercial and industrial. Diana's Malmo, Sweden headquarters will become the center of European operations for Powerit.
"Globally, there is growing demand for energy-saving operations in both the industrial and commercial sectors. It makes perfect sense to combine the respective strengths of our two companies into a single enterprise offering comprehensive solutions to organizations worldwide," said Olsson.
With European partner E.ON, provider of integrated distribution and sales of power and gas and the world's largest utility, Powerit and Diana technology platforms have been successfully applied in over 2,500 installations globally many in industry sectors that have high energy demand and/or specific comfort criteria, including agriculture and food products, commercial and recreational facilities, retail space, forest products, mechanical fabrication and manufacturing, petroleum and petrochemical, and primary metals fabricators. Through Diana, Powerit provides product development and manufacturing based on the needs of E.ON's market, which E.ON then offers to its industrial customers.
About Diana Control AB
Diana Control AB is a well-established company with its main office in Malmo and a branch office in Stockholm. The company develops, manufactures, supplies, and installs intelligent energy management and building control systems, such as HVAC, lighting, smoke sensors, and chiller systems for commercial properties. The company's main product is the ADP3000 Controller and the Swedish-developed software with its own powerful graphics, communications, and programming tools, DianaView (DiaBild). In addition, the company sells analogue and digital stand-alone controllers and components for HVAC systems. The company's primary customer base is in Scandinavia. For more information, please visit the company's Web site.
About Powerit Solutions
Powerit Solutions is a global leader in intelligent energy-demand management. Through application of the company's technology, Energy Director(TM), companies manage and reduce peak energy demand—saving money and managing their resources better without compromising operations or building comfort. Optimizing energy usage has a positive impact on the environment and a stabilizing impact on utility consumption overall. Operations that lower peak demand are able to take advantage of a growing number of demand response (DR) incentive programs being implemented globally. Powerit Solutions, LLC is a wholly-owned subsidiary of Powerit Holdings, Inc. with headquarters in Seattle, Washington, U.S.A. For more information, please visit the company's Web site.
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