Finnish company plans to acquire Herndon-based Greensmith Energy Management Systems
- May 16, 2017
Wärtsilä, a Helsinki-based technology group, plans to acquire Herndon-based Greensmith Energy Management Systems Inc.
Financial details of the deal were not disclosed.
Greensmith provides advanced energy storage technologies and software solutions.
Wärtsilä is a major provider of advanced technologies and lifecycle solutions for the marine and energy markets.
The Greensmith acquisition is expected to help Wärtsilä to expand its footprint in the energy storage market.
Greensmith will operate as a separate business under Wärtsilä Energy Solutions. The transaction is expected to close by July.
The Finnish company has 18,000 employees and had 2016 net sales totaling $5.3 billion.