Current, a startup of sorts created by GE around six months ago, has announced the acquisition of Daintree Networks, an Australian-based Industrial Internet provider of building controls systems for commercial facilities, for US$100m (£69m).
This acquisition will enable Current to 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, 90% of the world’s small- to mid-sized buildings do not have building automation systems. By integrating Daintree Networks’ wireless control solution, ControlScope, into Current’s…
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