Finland-based Vaisala has acquired 3TIER Inc., a Washington-based renewable energy assessment and forecasting services company with 55 employees, for $14.7 million. This follows Vaisala's acquisition of Massachusetts-based Second Wind in August.
The majority of 3TIER's business comes from the wind energy market, but the company also serves customers in the solar and hydro energy markets. Vaisala says 3TIER complements its environmental sensing business, and 3TIER's international distribution network will provide growth opportunities in Brazil, Nordic countries, China, Australia, India and the U.S.
‘The renewable energy market is a focus area of Vaisala's Weather business, and the acquisition of 3TIER, with its wind and solar energy emphasis, aligns perfectly with Vaisala's strategy," says Kai Konola, executive vice president of Vaisala Weather Business.
"Wind energy represents an extensive market with long-term growth opportunities," Konola continues. "3TIER brings Vaisala valuable capabilities in renewable energy assessment and forecasting services applicable across our other segments as well."
Vaisala says it is using its existing cash balance to finance the transaction.