ANAHEIM, Calif.--(BUSINESS WIRE)--
Willdan Group, Inc. (NASDAQ: WLDN) today announced the acquisition of
Integral Analytics, Inc. (IA), a data analytics and software company,
which closed on July 28, 2017. IA is a recognized leader in data
analytics that help utility managers evaluate, plan and dispatch
electricity resources more effectively. IA's software solutions are
designed to solve problems arising from the transformation of an
electric grid facing increasing growth in distributed energy resources,
such as solar and electric vehicles.
"We believe the addition of IA's capabilities will significantly improve
our ability to target locational energy savings and microgrids, and can
provide us with a clear technical advantage on energy efficiency
programs," said Tom Brisbin, Willdan's CEO and Chairman. "Cloud
supercomputing has enabled IA to deliver its energy optimization
technologies in a way that has not been previously possible. When
combined with the significant investments that utilities have made in
data collection, IA can synthesize terabytes of data into analysis
utilized for more granular load forecasting, capital expenditure
planning and electrical efficiency targeting to optimize distributed
resources and guide operations. IA's solutions assist utilities in
effectively harnessing the power of renewables and energy storage to
help them provide lower cost power reliably. IA's solutions generally
reduce the annual distribution capital budget of utilities by three to
"Being part of Willdan will improve the resources available to IA, our
customers and our strategic partners, as well as providing new avenues
for IA software to solve increasingly complex challenges in markets we
have yet to reach," said Dr. Tom Osterhus, Integral Analytics founder.
"Customers embrace IA solutions as the core application needed to bridge
utility planning, operations, energy efficiency and distributed energy
IA's customers include municipal systems and some of the largest
investor-owned utilities in North America, with applications used by
utilities in regulatory proceedings in over 30 states. IA is a 2016
Greentech Media Grid Edge Awardee and 2015 Fierce SmartGridNews winner
of Best Innovation in Big Data and Analytics. Headquartered in
Cincinnati, Ohio, IA was founded in 2005.
Willdan expects that the IA acquisition will not affect the Company's
2017 revenue or earnings per share forecast. In 2018, Willdan expects
that the acquisition will add approximately $10 million in revenue and
be accretive to earnings per share by approximately 12 cents.
About Integral Analytics
Integral Analytics (IA) software products (LoadSEER, IDROP and DSMore)
merge economics and engineering to provide statistically-robust
forecasting and analytics by which utilities and distributed energy
resource owners make optimized financial and engineering decisions. More
information is available at: www.integralanalytics.com.
Willdan provides professional technical and consulting services to
utilities, public agencies and private industry throughout the United
States. Willdan's service offerings span a broad set of complementary
disciplines that include energy efficiency and sustainability,
engineering and planning, financial and economic consulting and national
preparedness. Willdan provides integrated technical solutions to extend
the reach and resources of its clients and provides all services through
its subsidiaries specialized in each segment. For additional
information, visit Willdan's website at www.willdan.com.
Forward Looking Statements
Statements in this press release that are not purely historical,
including statements regarding Willdan's intentions, hopes, beliefs,
expectations, representations, projections, estimates, plans or
predictions of the future are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements regarding the expected benefits to Willdan of the
IA acquisition and the expected impact of the IA acquisition on
Willdan's earnings per share. The forward-looking statements involve
risks and uncertainties including, but not limited to, the risk that
Willdan will not be able to expand its services or meet the needs of
customers in markets in which it operates. It is important to note that
Willdan's actual results could differ materially from those in any such
forward-looking statements. Factors that could cause actual results to
differ materially include, but are not limited to, Willdan's failure to
execute on existing projects, inability to integrate recent
acquisitions, including its recent acquisition of IA, a slowdown in the
local and regional economies of the states where Willdan conducts
business, Willdan's inability to successfully implement its tax strategy
and the loss of or inability to hire additional qualified professionals.
Willdan's business could be affected by a number of other factors,
including the risk factors listed from time to time in Willdan's SEC
reports including, but not limited to, the Annual Report on Form 10-K
filed for the year ended December 30, 2016 and the Quarterly Report on
Form 10-Q for the quarter ended June 30, 2017. Willdan cautions
investors not to place undue reliance on the forward-looking statements
contained in this press release. Willdan disclaims any obligation to,
and does not undertake to, update or revise any forward-looking
statements in this press release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170803006197/en/
Willdan Group, Inc.
Financial Profiles, Inc.
Tony Rossi, 310-622-8221
Source: Willdan Group, Inc.
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