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Vaisala Corporation acquires 3TIER

Purchase of renewable energy assessment and forecasting services company valued at EUR 10.7 million.

3TIER Inc., a US-based company with USD 9.0 million net sales in 2012 and 55 employees.  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 wind energy market, the company also serves customers in solar and hydro-energy sectors.

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 USA. 

“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," said Kai Konola, executive vice president of Vaisala Weather Business. "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."  
 
Vaisala is using its existing cash balance to finance the transaction. This acquisition, which is valued at EUR 10.7 million. will not have a material impact on Vaisala’s 2013 financial result or balance sheet.
 
Vaisala’s strategic intent has been to build a stronger position in the renewable energy sector. The acquisitions of Second Wind in August and, now, 3TIER are logical steps -- and together with Vaisala’s offerings create a full-service renewable energy measurement and information services business.

 

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Energy efficiency  •  Policy, investment and markets  •  Solar electricity  •  Wind power

 

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