Current, Powered by GE, Acquires Daintree Networks to Add Intelligence to Buildings

Current, powered by GE, announced the acquisition of Daintree Networks, an Industrial Internet provider of building controls solutions for commercial facilities. This acquisition will enable Current to help expand its building automation platform and its energy-as-a-service offering to small- and medium-size facilities through the deployment of Daintree's open, standards-based wireless control systems.

Today, it is estimated that 90 percent of the world's small- to mid-sized buildings reportedly do not have building automation systems. Integrating Daintree Networks' open-standard networked wireless control solution, ControlScope, into Current's building automation portfolio creates a joint solution that links data from lighting and HVAC systems directly to Predix, GE's Industrial Internet software platform.  This will help enable its users to analyze their energy consumption and identify data patterns to help increase efficiency and reduce power levels. Daintree technology today is used to manage over one million lights, thermostats, and sensors in office, retail, and industrial locations, delivering monthly lighting and HVAC energy cost savings of reportedly up to 60 percent.

This acquisition brings to Current an ecosystem of value-added resellers, system integrators and device partners with experience in helping enterprises deploy and better optimize ControlScope in commercial, retail, and industrial environments. Built to open protocol standards, Daintree's ControlScope technology can be deployed wirelessly in most enterprises and helps to provide interoperability between products offered by multiple device vendors.

The acquisition comes just six months after the formation of Current, an energy start-up within GE that integrates GE's LED and onsite power businesses with GE's Predix platform to deliver a more cost effective energy management platform. GE's Predix platform is designed to be open, flexible, and securely connect multiple third party devices and assets to the Industrial Internet.

Upon completion of the acquisition, Current will integrate Daintree's employees in California, Australia, and Massachusetts into its structure.

Keywords: Building Automation, Energy-as-a-Service, IoT, Energy Management, Intelligent Environment, Industrial Internet, ARC Advisory Group.