A Branchburg-based energy-monitoring firm is hoping to go viral with the acquisition of a Boston company.
Noveda Technologies, a maker of Web-based energy and water monitoring systems, on Tuesday announced its acquisition of MakeMeSustainable, an energy-efficiency software and services company.
Govi Rao, Noveda’s CEO, said the acquisition furthers his company’s goal of enabling better energy and water management by giving homeowners and businesses more data about their consumption.
“One of the challenges that we face today is in telling people about real-time monitoring,” he said. “People just don’t know what they don’t know.”
MakeMeSustainable brings with it a social media platform — something Rao said already was in Noveda’s plans, but probably 12 to 18 months from becoming reality.
“The way the platform is built, because it’s social media, social networking — you’re actually able to share your success, share your savings,” he said.
The timing also works out well because Noveda is planning to launch a suite of products aimed at residential and small commercial customers in the next month. Rao said MakeMeSocial should help Noveda reach out to customers in those markets, and enable those customers to quickly purchase Noveda’s products and services.
MakeMeSustainable also recently launched a tool, Effacility, which helps users complete a basic audit of their energy and water use, then offers a list of recommendations to reduce that.
The deal includes cash and Noveda stock. MakeMeSustainable’s founders and employees — based in Boston and New York — will join Noveda. For the time being, Rao said, Noveda will continue to use the brand MakeMeSustainable.
Rao said he was looking to acquire a company in the energy and water space that had basic audit capabilities, as well as social media capabilities.
“This was the only one we came across that was doing so well,” he said.