Smart energy solutions provider to take over analytics and IoT company

Smart energy technology business, SolarEdge Technologies Inc, is acquiring Leeds-based Hark Systems.

Founded in 2016, Hark offers a Software as a Service (SaaS) Internet of Things (IoT) platform.

It enables businesses to improve efficiency, reduce waste and maximise yield by connecting to, providing visibility of, and automatically controlling assets such as energy meters, building management systems and industrial systems.

The firm’s customer base comprises diverse industries, including some of the largest supermarket chains in the UK.

The acquisition is expected to enable SolarEdge to offer its commercial and industrial (C&I) customers expanded capabilities in energy management and connectivity.

Zvi Lando, CEO at SolarEdge Technologies, said: “Hark’s SaaS platform will enable us to grow our extensive commercial and industrial energy management portfolio and offer additional services to our C&I customers.

“Coupled with our smart energy solutions, Hark’s advanced technological capabilities can provide enterprises with greater transparency and control of their energy usage and carbon emissions.”

Jordan Appleson, CEO and co-founder at Hark Systems, added: “SolarEdge has revolutionised how solar energy is harvested and managed and has deployed millions of smart energy management systems globally.

“We are excited to be able to be a part of the SolarEdge offering and join their global infrastructure to assist enterprises in the C&I market to manage their energy in a more efficient and sustainable way.”

The acquisition is subject to closing conditions and regulatory approvals and is expected to close during the second quarter of 2023.

Clarion Solicitors’ corporate team supported the shareholders of Hark with its sale to SolarEdge Technologies. The team comprised comprised Hitesh Tailor, Caitlin Hare and Emily Prince.