Quantela, an Outcomes-as-a-Service (OaaS) company that specializes in urban infrastructure digitization, acquired CIMCON Lighting, Inc., a Burlington, Massachusetts-based provider of smart lighting and smart city technologies.
The amount of the deal was not disclosded.
This acquisition will provide Quantela with full coverage and access to the ubiquitous streetlight pole infrastructure to deploy innovative technologies and improve societal, and economic outcomes.
Founded in 2012 by Anil Agrawal, Founder, CIMCON has over 200+ customers in 30 countries with 1.2 million streetlight controls deployed.
Led by Sridhar Gadhi, Founder and Executive Chairman, and Amr Salem, CEO, Quantela specializes in urban infrastructure digitization. The company, which currently has over 100+ deployments across the globe, further supports communities through Outcomes-based Financing, a funding vehicle that helps communities invest in projects though cost savings and revenue generation from the implementation of smart technologies.
The company’s U.S. based Silicon Valley headquarters will be transferred to Burlington, Massachusetts, with offices remaining in Europe, and Asia.
FinSMEs
04/08/2021