M&A Deal Summary

Iota Communications Acquires Solbright Renewable Energy

On May 8, 2017, Iota Communications acquired renewable energy company Solbright Renewable Energy for 15M USD

Acquisition Highlights
  • This is Iota Communications’ 1st transaction in the Renewable Energy sector.
  • This is Iota Communications’ largest (disclosed) transaction.
  • This is Iota Communications’ 1st transaction in the United States.
  • This is Iota Communications’ 1st transaction in South Carolina.

M&A Deal Summary

Date 2017-05-08
Target Solbright Renewable Energy
Sector Renewable Energy
Buyer(s) Iota Communications
Deal Type Add-on Acquisition
Deal Value 15M USD
Advisor(s) The Capital Corporation (Financial)

Target

Solbright Renewable Energy

Charleston, South Carolina, United States
Solbright Renewable Energy LLC is a renewable energy design and development company. Solbright Renewable Energy LLC was established in 2009 and is headquartered in Charleston, South Carolina.

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Buyer(S) 1

Buyer

Iota Communications

Newark, New Jersey, United States

Category Company
Founded 2002
Sector Information Technology
Employees6
Revenue 2M USD (2017)
DESCRIPTION

Iota Communications, Inc. is a provider of a wireless network and operating system (the "platform") which has been purpose-built and optimized for the Internet of Things applications. Iota's is the only IoT-dedicated wireless platform in the US whose core network operates on FCC-licensed radio spectrum, and the only one which also connects all standard end devices transmitting on standard cellular, WiFi, Bluetooth, and Zigbee protocols. Iota operates an open-interface applications environment which hosts and distributes both Iota's and third-party customer applications. Iota also offers important additional products and services which facilitate the adoption of our platform-based services. These include customer connectivity devices and other pass-through equipment for certain applications, FCC license application, procurement, and leasing services, and solar energy, LED lighting, and HVAC conversion and implementation services. Iota Communications was formed in 2002 and is headquartered in Newark, New Jersey.


DEAL STATS #
Overall 1 of 1
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (South Carolina) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-28 Semiconductor Business - Arkados

United States

Semiconductor Business of Arkados.

Sell $11M