Energy technology business Generac Power Systems has acquired a Colorado company whose software helps control and manage self-contained energy networks.
Details on the purchase of Ageto were not disclosed.
The purchase of the company based in Fort Collins, Colorado, is designed to let Genesee Depot-based Generac (NYSE: GNRC) offer a "complete energy technology ecosystem" to customers with multiple sites.
"By integrating Ageto's industry-leading microgrid controller and advanced software into our systems, we're simplifying asset integration, control and optimization for our customers and creating a competitive advantage for Generac," said Erik Wilde, president of the company's domestic commercial and industrial division, in a statement.
The acquisition comes after the two companies had worked together for about three years, with Ageto's microgrid controllers incorporated into Generac's battery systems and generators.
Generac manufactures backup and prime power products and energy storage systems for homes and businesses as well as energy monitoring and management devices and services and other power products.
