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EnerNOC Inc., which helps utilities and electric grid operators regulate supply and demand, on Wednesday said it acquired SmallFoot LLC to expand its reach into the small commercial market.
SmallFoot LLC makes wireless systems that manage and coordinate demand for small commercial facilities. The company's technology will help EnerNOC cut deployment costs for small commercial customers, EnerNOC said. Currently 25 percent of the sites in EnerNOC's network are small commercial sites.
"Going deeper into this underserved market represents a large growth opportunity for our company," said Tim Healy, CEO of EnerNOC.
"SmallFoot gives us additional technology to unlock all forms of demand response and deploy our full suite of applications in this exciting market."
Financial terms of the deal were not disclosed. EnerNOC said it does not expect the transaction to materially impact its 2010 financial results.
Shares of EnerNOC closed at $31.40 on Tuesday.