Johnson Controls anticipates to expand its operations in the large commercial, industrial and institutional markets, through the acquisition of EnergyConnect.
The transaction is subject to customary closing conditions, and is expected to be completed by July this year.
EnergyConnect’s technology and service platform provides energy managers and facility operators real-time energy information and access to energy markets, enabling them to control their energy spend, the company said.
Johnson Controls vice president David Myers said that coupling EnergyConnect’s expertise in demand response with the company’s strength in smart building technologies will enable it to expand its offerings and help customers better manage their overall energy spend.
EnergyConnect president and CEO Kevin Evans said that in addition to the natural synergies in the company’s businesses, the Johnson Controls’ global footprint and distribution channels will enable it to accelerate the transformation of electricity use in response to market prices while enhancing the efficiency and reliability of the grid.
