Consert, a US-based energy management company formerly known as Cleartricity, said it was in advanced talks with undisclosed potential buyers for an acquisition before the end of the year, according to news provider CleanTech Group.
It raised $7m in October last year and a further $5m in April, according to filings made with the US Securities and Exchanges Commission (SEC) and $17.7m, in June 2010, from corporate venturing units GE Energy Financial Services and Verizon Ventures, semiconductor manufacurer Qualcomm and energy company Constellation Energy.
Founded in 2008, Consert manufactures home energy management systems uses a smart thermostat, which connects to a central data centre using Verizon’s 3G and 4G networks. Verizon and Consert announced results from jointly-managed Texas-based pilot projects.