Generac to acquire ecobee for $770m.

Generac, a global designer and manufacturer of energy technology solutions and other power products, agreed to acquire ecobee, a provider of sustainable smart home solutions, for $770m. "ecobee’s solutions are an important addition to Generac’s extensive residential energy technology portfolio. Residential HVAC systems represent the largest energy-consuming device in the home today and ecobee’s smart thermostats and sensors offer the most intelligent way to balance comfort with conservation. In addition, the ability to combine ecobee’s cutting-edge technologies with Generac’s power generation, energy storage and energy management devices will allow us to create a clean, efficient, and reliable home energy ecosystem that will not only save homeowners money, but also help grid operators meet the challenges of an electrical grid under enormous stress by providing solutions to better balance supply and demand," Aaron Jagdfeld, Generac President and CEO.