WAKE FOREST, N.C., Oct. 10 (UPI) -- PowerSecure International Inc. has acquired the assets of Encari LLC, a cybersecurity and reliability compliance consulting service for utility companies.
"PowerSecure is focused on serving our utility customers," said Sidney Hinton, chief executive officer of PowerSecure. "By adding Encari's technical consulting expertise, we are able to expand our service offering to our existing utility partners and bring new services to Encari's impressive customer base."
The acquisition was a $4.8 million cash transaction. PowerSecure said would pay an additional $1.2 million if Encari achieves certain income goals in the fourth quarter of 2013.
"With our unparalleled understanding of Federal Energy Regulatory Commission regulations and NERC CIP [North American Electric Reliability Corp.'s Critical Infrastructure Protection] Reliability Standards, Encari has been able to help its utility customers achieve and maintain required compliance," said Steve Hamburg, president of Encari.
"Now, with the added resources and substantial capabilities of PowerSecure, we will be able to provide a broader range of services to utilities as they continue to adapt to new and complex cyber-security compliance requirements."