Power-One Inc. which makes power inverters and related devices for computer equipment and renewable energy systems, said late Thursday that it has acquired software developer Fat Spaniel Technologies Inc.
Fat Spaniel is a San Jose provider of software used to manage solar installations and other renewable energy equipment. Camarillo-based Power-One said the acquisition will increase the attractiveness of its own products in that sector.
"Fat Spaniel is a market leader in enabling producers of renewable power to reliably and efficiently connect with the grid," said Alex Levran, president of Renewable Energy Solutions at Power-One, in a statement.
Financial terms of the deal were not disclosed. Fat Spaniel was backed by Applied Ventures, Chrysalix Energy, DFJ Element, Element Venture Partners, Ignition Partners, and Pacific Corporate Group.
Prior to the announcement, Power-One shares closed up 74 cents, or 7.6 percent, to $10.48 on the Nasdaq.
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