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Seven Hills Advises Energy Recommerce Inc. in Sale to National Semiconductor Corporation
We are pleased to announce the acquisition of Energy Recommerce Inc. ("ERI") by National Semiconductor Corporation (NYSE:NSM). Seven Hills acted as the exclusive financial advisor to ERI in this transaction. Terms of the transaction were not disclosed.
ERI (www.energyrecommerce.com) is the leader in solar power performance management, with the industry's preferred string-level monitoring system for commercial and utility-size solar systems. ERI's MYPVDATA® is a total solution for solar system monitoring and management selected by leading energy service companies, integrators, commercial builders and power purchase agreement providers (PPAs). MYPVDATA® is an easy-to-install, easy-to-manage solution with string-level monitoring, revenue-grade metering and a superior web-enabled platform for real-time alarming, billing, reporting and facility management functions giving PV system owners and operators the power to maximize their system performance and gain full control of their investment. Current customers represent blue chip energy leaders, retail giants and PPAs, including BP Solar, Chevron Energy, REC Solar, Fotowatio Renewable Ventures, Solar Power Partners, Akeena Solar, SunPower, Borrego Solar, Tioga Energy, as well as end-users and off-takers such as Costco, Macy’s, Safeway, and Wal-Mart. ERI, a privately-held company, was founded in San Francisco in 2004 and is backed by Dry Creek Ventures.
National Semiconductor is a leader in analog power management technology. Its products include easy-to-use integrated circuits, PowerWise products that enable more energy-efficient systems, and SolarMagic products which improve the energy output of solar arrays. National's solar power management product line is designed to improve photovoltaic system efficiency by enabling precise control and performance optimization at the module level. National Semiconductor is headquartered in Santa Clara, CA.
About Seven Hills
Seven Hills (www.sevenhills.com) is a leading provider of financial advisory and corporate finance services to growth companies. We deliver technical expertise developed at major Wall Street firms and an entrepreneurial drive developed during our years at growth company-focused investment banks. We concentrate our efforts in growth sectors of the economy in which our bankers have advised hundreds of companies and established a broad network of corporate and institutional investor relationships. Seven Hills is an independent firm owned by its Partners and a select group of private investors.
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