EnerNOC Inc. chief executive Tim Healy's shopping spree doesn't seem to be ending any time soon. On Tuesday, the energy management company plans to announce its purchase of Pulse Energy, a Vancouver company that supplies software to help utilities interact with commercial and industrial customers. Healy declined to disclose the value of the stock-and-cash purchase.
The deal is the latest of several the Boston company has made in 2014 as Healy tries to diversify EnerNOC beyond "demand response" – rewarding big electricity users for cutting back in times of peak demand that drove nearly 90 percent of EnerNOC's $384 million in revenue last year.
Pulse employs 50 people, or 65 if part-timers are included. Healy expects the acquisition to help expand Pulse's workforce and add to EnerNOC's team in Boston, where the company employs about 500 of its 1,150 workers. "We're probably going to look to hire both in Vancouver and in Boston to help grow this part of the business," he said.
Healy also engineered deals to buy World Energy Solutions, EnTech, Entelios, and Activation Energy, and invest in WeSpire.