VDA Group Acquires 53% of U.S.-Based Telkonet
VDA Group, an Italian multinational operating in the field of Guest Room Management Systems (GRMS) designed for the hospitality industry, has acquired 53% of the shares of Telkonet, Inc., a U.S.-based company listed on the OTC market and operating in the field of Energy Management Systems (EMS). The new Group - with 7,000 properties and 2,450,000 products installed in facilities located in the United States, Europe, Middle East, and Asia - stands as the largest global player in a market currently without leadership, to define the future of the industry by emphasizing the value of People in the development of technologies aimed at comfort and energy savings.
Expansion and dimensional growth, synergy in technology and market, and an opportunity to be a unique proxy for Hotel chains. These are the objectives of the newly formed Group that sees the possibility of being a solution provider, the global reference point of IoT technologies applied to the world of Hospitality. The software and hardware proficiencies, technologies based on cloud, the ability to adapt to different design needs, allows you to continue to enhance Hotel comfort and put the person at the center of project development. The group delivers essential characteristics for an increasingly attentive market with solutions that enhance sustainability through energy savings and that aim to provide an inimitable guest experience.
"For Telkonet, this combination represents an excellent opportunity to expand our reach within markets outside the US and to be able to compete in an increasingly attractive and competitive field”, said Jason Tienor, CEO of Telkonet Inc. “I'm fully convinced that our combined Teams will introduce exceptional new alternatives in smart technology and room controls and successfully seize the opportunities offered by this new era of intelligent automation".
"With Telkonet we have found the ideal partner, which on the one hand approaches the market in a way very similar to ours, placing People at the center, and on the other hand, completes the offering of our solutions thanks to their expertise in the world of Energy Management", said CEO of VDA Group Piercarlo Gramaglia. "The end-to-end technology itself serves little, the goal we are setting is to put ourselves at the service of the Hospitality market, to ensure that the digital transformation in place increases its benefits exponentially. Sustainability and user experience can be enhanced if all the operators involved collaborate in this ambitious project".
In support of this operation the law firms Moses & Singer LLP and Gianni & Origoni; in the role of financial advisors Scouting Capital Advisors and Blitzer, Clancy & Company.