The Amazon, Carrier, AGL Energy and Just Energy-backed smart thermostat producer is set to be taken over by Generac Holdings in a deal that could reach $770m.
Power generator manufacturer Generac Holdings agreed yesterday to acquire Ecobee, a Canada-based smart thermostat producer backed by corporates Amazon, Carrier, AGL Energy and Just Energy, for up to $770m.
Generac will pay $200m in cash along with $450m in common stock to the current equity holders of Ecobee. Its shareholders may receive up to $120m in additional Generac shares upon achievement of certain performance targets between the close of the deal and June 30, 2023.
Founded in 2007, Ecobee has…
