Ekhosoft Inc, a Canadian provider of intelligent operational management software solutions, has been acquired by Power Factors LLC, a U.S. software company focused on renewable energy assets. No financial terms were released. The industrials division of Brossard, Québec-based Ekhosoft, founded in 2000 by CEO Patrick Ramsey, will continue to operate under its existing name, while the renewables division will be merged with Power Factors. Larkspur, California’s Power Factors was acquired earlier this year by U.S. private equity firm Oaktree Capital Management.
Canadian Software Company Ekhosoft Acquired by Power Factors, LLC
MONTREAL, QUEBEC and LARKSPUR, CALIFORNIA — (Marketwired) — 11/22/16 — Ekhosoft Inc., a leader in intelligent operational management software solutions, has been acquired by Power Factors LLC, an industry-leading software provider for monitoring, managing and optimizing renewable energy assets.
“For the past 15 years, Ekhosoft has built powerful, event-driven software tools for some of the top industrial and renewables customers around the world,” said Patrick Ramsey, CEO and Founder of Ekhosoft, adding: “Our team of experienced developers and technology specialists has more than 450 combined years of experience building software solutions for our customers. Our development team is second to none.”
The ability to bring Ekhosoft technology, knowledge and expertise to Power Factors customers is very exciting, said Steve Scales, EVP and co-founder of California-based Power Factors.
“Power Factors– mission is to give our customers the tools they need to optimize the health and performance of their assets and drive bottom line economics,” Scales said. “This acquisition is significant because it gives us a deep development bench from which to continue to innovate and push forward what we believe is already the most fully integrated and robust set of tools in the industry. This acquisition will enable us to serve our traditional market as well as expand into the industrial marketplace.”
“We–re thrilled to be joining forces with Power Factors. Our combined mission is to build powerful, reliable and scalable tools for both the Industrial and Renewable Energy markets,” said Ramsey.
Ramsey added, “Ekhosoft and Power Factors together will leverage our combined industry expertise, technology, and balance sheet to deliver exceptional products to existing customers and enable us to expand our leadership positions in both the global industrial and energy markets.”
Under this acquisition the Industrials division of Ekhosoft will continue to operate under the same name, with the same core group of personnel, and with a renewed focus and commitment on the evolving requirements in the global industrial marketplace. The Renewables division of Ekhosoft will be merged with Power Factors to continue the development and promotion of their leading software for the Renewable Energy marketplace.
Ekhosoft provides software for operational management and performance management in industrial and renewables environments. The company collects real-time data from control systems and combines it with data from business systems and the web to deliver key insights into operations and facilitate performance-improvement initiatives. The software is successfully installed in hundreds of sites around the world. Unique in the industry, Ekhosoft–s all-in-one application solutions are configurable and can be adapted to any organization–s needs and requirements. The company–s installation process is the fastest in the industry and is accomplished with no software development. Ekhosoft has extensive experience in industrials and renewables, with an established customer base in Pulp & Paper, Mining & Metals, Oil & Gas, Chemicals and Food & Beverage, as well as Wind, Solar, Hydro, Biofuels, Gas Turbines and Cogeneration.
About Power Factors, LLC
Power Factors delivers bankable, scalable data platforms for clean energy, providing infrastructure and services to optimize the physical and financial performance of clean energy assets. The company–s proprietary platform is built upon pillars of the electric power industry, time-tested over decades to ensure reliability and scalability. Its energy and data experts work with the largest and most successful clean energy companies in the world to help customers get the most out of their investments. Power Factors is owned by Oaktree Capital Management, a global asset management company with over US$97-billion of assets and investments under management.
Photo courtesy of Ekhosoft Inc