Solar asset management software provider Power Factors acquired by Vista Equity Partners
Solar energy management software provider Power Factors announced a definitive agreement to be acquired by Vista Equity Partners. Vista’s involvement will continue to drive product innovation and enable Power Factors to serve a wider range of renewable energy customers as renewable energy generation is rapidly adopted on a global scale.
Power Factors provides renewable energy asset owners and operators with mission-critical business software for asset performance management, commercial asset management, workflow management, and analytics. Power Factors’ flagship software platforms — Drive, Greenbyte and 3megawatt’s BluePoint — help clients manage complex portfolios of renewable energy assets, optimize revenue and energy output, and reduce manual service and audit costs.
“We are excited to partner with Vista during a period of unprecedented growth in the global renewable energy market, which has fueled the continued expansion of our business,” said Gary Meyers, CEO of Power Factors. “Our software helps customers accelerate the global clean energy transition by lowering the equalized costs of renewable energy. Partnering with Vista will provide us with the resources and enterprise software expertise needed to scale our business and help our customers expand their portfolios and drive the global adoption of renewables in meaningful ways .”
News item from Power Factors