Causam Energy to Acquire Power Analytics Corporation
Causam Energy, Inc., headquartered in Raleigh, today announced an agreement to acquire Power Analytics Corporation, a privately held software and professional services company with offices in San Diego and Raleigh and a member of CleanTECH San Diego. Power Analytics’ innovative software products solve complex power and energy problems, and in combination with Causam will accelerate the development of advanced communications and analytics solutions for the electric power grid.
“Power Analytics’ products and people are the best in the business,” said Joe Forbes, Jr., CEO of Causam. “Having a proven suite of high value products with a significant portfolio of intellectual property behind them, substantially greater resources and strong, experienced management, this new company is uniquely positioned to develop and deliver the critical solutions required by the impending next generation energy grid.”
Power Analytics’ Paladin® platform will be a core component in the development of additional applications covering real-time communication, advanced energy settlements, distributed generation, and intelligent analytics. Causam brings a state-of-the-art design center, additional resources that will enable rapid product development, and a management team that has successfully scaled a number of technology companies.
“Causam is an excellent strategic fit for us,” added Power Analytics President and Chief Technology Officer Kevin Meagher. “This union empowers us to continue providing high-quality products and service to customers while adding resources to extend and enhance our existing products that will help our customers meet the demands of the rapidly evolving grid.”
Power Analytics’ award-winning Paladin® family of software products is used worldwide by utilities, government agencies, and commercial microgrids and data centers, including UC San Diego, which operates the largest public microgrid in the U.S. today. In April 2014, Power Analytics was named to Greentech Media’s Grid Edge 20, as one of the 20 most innovative companies leading the charge into grid modernization. Greentech Media has also recognized Meagher as one of “100 People You Must Know in Smart Grid.”
“Microgrids and other distributed energy resources hold great promise for improving energy reliability and security, balancing loads, and reducing our dependence on fossil fuels,” continued Forbes. “This combination will accelerate the introduction of additional grid solutions, improving access, grid security and data analytics.”
Post-merger, Power Analytics will operate as a wholly owned subsidiary of Causam, with Meagher becoming chief operating officer. Forbes, Taylor Brockman and David Bass will serve as CEO, CTO, and CFO, respectively, for both Causam and Power Analytics.