Daikin Comfort Technologies North America, Inc. (Daikin) has acquired Venstar, Inc. (Venstar), a prominent controls and energy management systems provider whose technology and indoor comfort solutions are used in millions of residences and light commercial applications across the United States, Canada and Mexico.
Smart thermostat and cloud service solutions represent the future of indoor comfort beyond controlling temperature and ventilation, with powerful benefits that provide value to homeowners, businesses, HVAC contractors and even utility companies.
The acquisition, announced today by Daikin – a subsidiary of Daikin Industries, Ltd. (DIL), the largest manufacturer of HVAC systems worldwide – complements the growing market for Daikin’s environmentally friendly indoor comfort technologies, including its high-performing inverter and heat pump solutions, and products featuring R-32, an open-source refrigerant with one-third the Global Warming Potential (GWP) of the most commonly used refrigerants in the U.S. and Canada.
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Venstar, founded in 1992 and based in Southern California, designs and builds a broad variety of innovative thermostats with more than 10 million installed. The company’s Surveyor® Energy Management System allows retailers, restaurant chains and other multi-location businesses to remotely monitor, manage and control energy consumption while reducing maintenance expenses. Currently, Surveyor is used to control more than 100,000 HVAC systems and building lighting in more than 30,000 retail locations throughout North America. Venstar’s Skyport Cloud service provides businesses a secure and private powerful cloud service for command and control of HVAC systems from anywhere in the world.
Under the new ownership as a wholly owned business unit of Daikin Comfort Technologies North America, Inc., Venstar will continue to be led by Venstar’s existing management team with Steve Dushane, founder, president and CEO, as well as all current employees of Venstar. Venstar’s headquarters will remain in California and Daikin plans to maintain the strong recognition of the Venstar brand, along with maintaining all of Venstar’s successfully branded products.
“Venstar’s advanced smart thermostats, controls technology and outstanding energy management systems will help support Daikin’s leadership role in connected solutions, ensuring safe, environmentally friendly, peak performance operations of HVAC systems through cloud-connected monitoring and control,” said Takayuki Inoue, Executive Vice President and Chief Sales and Marketing Officer for Daikin. “We are committed to facilitating North America wide adoption of energy-efficient inverter, heat pump and R-32-based systems. These Daikin systems provide superior environmental benefits, energy savings and indoor comfort performance over traditional HVAC systems that currently cool and heat most North American homes and businesses.”
SOURCE: BusinessWire