Generac Holdings Inc. has announced that it will acquire Toronto, ON-based ecobee Inc.
ecobee is a pioneer in the smart thermostat and home solutions market, with more than 500 employees worldwide. Waukesha, WI-based Generac Holdings manufactures energy technology solutions and other power products.
“Generac’s evolution into an energy technology solutions company creates many opportunities to integrate our ecobee products with their residential device offerings, enabling direct monitoring and control of a significant portion of the home’s electrical load,” says Stuart Lombard, founder and CEO of ecobee. “We are excited to join the Generac team so together we can deliver a cleaner, more resilient and sustainable energy future for our customers and communities.”
According to Generac, the sale is expected to close later this year.