Vaisala has broadened its position in the renewable energy market through its acquisition of 3TIER, a U.S.-based company with $9 million net sales in 2012 and 55 employees. The value of the deal is EUR 10.7 million. Vaisala is using its existing cash balance to finance the transaction. This acquisition will not have a material impact on Vaisala’s 2013 financial result or balance sheet. Market guidance for 2014 will include also 3TIER’s impact on Vaisala’s financial result and it will be disclosed on Feb. 10, 2014, in Vaisala’s financial report for January to December 2013.
3TIER provides project feasibility, asset management and forecasting services to companies operating in the renewable energy market globally. While the majority of 3TIER’s business comes from the wind energy market, the company also serves customers in solar and hydro-energy markets. 3TIER complements Vaisala’s strong environmental sensing business and its international distribution network will provide significant growth opportunities in Brazil, Nordic countries, China, Australia, India, and the U.S.
“The renewable energy market is a focus area of Vaisala’s Weather business, and the acquisition of 3TIER with its wind energy emphasis, aligns perfectly with Vaisala’s strategy. Wind energy represents an extensive market with long-term growth opportunities. 3TIER brings Vaisala valuable capabilities in renewable energy assessment and forecasting services applicable across our other segments as well,” says Kai Konola, Executive Vice President of Vaisala Weather Business.
Vaisala’s strategic intent has been to build a stronger position in the renewable energy sector. The acquisitions of Second Wind in August and 3TIER today are logical steps, and together with Vaisala’s offering create a full service renewable energy measurement and information services business.
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