Home / M&A Activity / Siemens Acquires Global Energy Consulting Firm Pace Global

Siemens Acquires Global Energy Consulting Firm Pace Global

Siemens (NYSE: SI) has acquired Pace Global Energy Services LLC for an undisclosed amount, Siemens announced today.

Siemens said it will integrate the tools and consulting services provider into its building technologies division as a separate operating unit.

Pace Global Chairman and CEO Timothy Sutherland will lead the unit, which will retain that company’s executive staff.

Siemens estimates that Pace Global manages more than $5 billion in worldwide energy spending and oversees a risk portfolio valued at $100 billion in energy assets.

“The purchase of Pace Global allows us to extend our reach into the energy market and enhance our current building automation portfolio of energy management solutions and services to both the private and public sectors, ” said Dave Hopping, vice president of Siemens’ U.S. building automation business unit.

“Sustainability and energy efficiency are top priorities for enterprises and municipalities, ” added Andreas Schierenbeck, president of the U.S. building technologies division.

Check Also

Former DHS Commercialization Lead Nadia Carlsten Joins Amazon

Nadia Carlsten, former director of commercialization at the Department of Homeland Security and program manager of its cybersecurity division, has joined Amazon (Nasdaq: AMZN) as head of strategy and operations, G2Xchange ETC reported Monday.

Boeing: Aerospace & Defense Market to Reach $8.7T Over Next Decade; Greg Smith Quoted

Boeing (NYSE: BA) forecasts the aerospace and defense market to reach $8.7T and defense and space opportunities to hit $3.1T in the next 10 years as government agencies adopt new technologies, update military systems and expand maritime and space exploration.