(ADPnews) – Oct 11, 2010 - US renewable energy technology provider Power-One Inc (NASDAQ:PWER) has acquired Fat Spaniel, a provider of solar plant monitoring tools and monitoring services, in a bid to expand its foothold on the thriving US solar market.
No financial details were disclosed.
As part of the transaction, Power-One will integrate its solar inverter equipment with Fat Spaniel's solar management tools, enabling its customers to get improved data on energy harvesting from solar panels.
"We believe that the combined solutions will enable energy producers to increase energy harvest and performance ratios, cut the costs of operations and maintenance, reduce operational and financial risk and improve return on investment,” said Mark Hogan, Power-One's senior vice president for worldwide sales and marketing.
Power-One climbed up to the second spot in the global inverter league drawn up by market analyst IMS Research. The company, which recently reorganised its business, creating a separate unit for renewable energy products, could be in for a glorious future. German solar industry magazine magazine Photon last month warned that SMA Solar (ETR:S92) could be knocked off from the inverter lead by Korean rival Dasstech.
Founded almost 40 years ago, Power-One (www.Power-One.com), with headquarters in Camarillo, California, has global sales offices, manufacturing, and R&D operations in Asia, Europe, and the Americas. Its renewable energy products include Aurora power inverters for solar and wind applications.