World Energy acquisition passes final hurdle
The planned $76 million acquisition of Worcester-based World Energy Solutions by EnerNOC of Boston has passed its final milestone and is set to close next week.
EnerNOC’s purchase of World Energy, for $5.50 per share, was announced in November. Under the sale agreement, World Energy was allowed to solicit alternative proposals from a third party through Dec. 29. But none were received, according to a statement from World Energy Solutions, clearing the way for the merger on Jan. 5.
World Energy brokers electricity, natural gas and environmental commodities transactions. EnerNOC provides services that include energy analytics, energy efficiency programs, emissions tracking and energy procurement. The acquisition will allow for increased sales opportunities from a broader client base and deeper offerings, according to industry analysts.
Founded in 2001, World Energy employs more than 100, although a company spokesperson has declined to comment on how the acquisition will impact operations in Worcester.
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