Daintree Networks

Canaccord Genuity is pleased to announce that its client, Daintree Networks, Inc. has been acquired by Current, a subsidiary of General Electric Company, for an undisclosed amount.

Daintree Networks is a leading developer of open networked wireless products and software solutions for lighting and control, monitoring, and optimization of commercial buildings and industrial facilities. Its products and solutions include wireless HVAC control, wireless lighting control, embedded wireless drivers and fixtures, plug load control and energy management, environmental monitoring and other controls, and power metering solutions.

Current, formed in October 2015 as the new home of GE Lighting and other GE energy-centric businesses, serves the unique energy management needs of a wide range of utility, Commercial & Industrial and municipal customers. The acquisition will enable Current to expand its building automation platform and its energy-as-a-service offering to small- and medium-size facilities through the deployment of Daintree's open, standards-based wireless control systems.