Generac Acquires Industrial IoT Platform Blue Pillar - Generac Hldgs (NYSE:GNRC)

  • Generac Holdings Inc GNRC has acquired Blue Pillar, an industrial internet of things (IoT) platform developer, for undisclosed financial terms.
  • Generac said it shares a mutual customer base with Blue Pillar, with highly compatible product offerings that work together to provide a total connectivity solution to commercial and industrial customers.
  • Generac aims to further integrate the Blue Pillar platform into its power generation products.
  • Erik Wilde, EVP of Industrial – Americas at Generac, said, “As a result of the acquisition, we will be able to provide customers and utility partners with an even broader suite of services, including holistic site monitoring.”
  • The acquisition was closed on October 3, 2022.
  • GNRC held $467.1 million in cash and equivalents as of June 30, 2022.
  • Price Action: GNRC shares are trading higher by 4.55% at $185.46 on the last check Tuesday.

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