Hank Smith, President and CEO of Independent Technologies, Inc. announced the acquisition of EnerTrac Tank Monitoring from Senet today. The contract and resulting partnership is considered by both companies to be a positive move that will deliver a unique and complimentary technology to a growing market. “We are very excited about bringing the best of our two companies together,” Smith said.
The acquisition will allow the WESROC division of Independent Technologies, Inc. to expand its product line while also enhancing its communication solutions capabilities. “This is an exciting move that lets us significantly expand our hardware solutions, and on the communications side, we are able to offer a monitoring solution for any need or budget,” Smith said.
For Senet, the acquisition allows them to focus on the company’s core network connectivity platforms and services for the build-out and management of the Internet of Things (IoT) network. The purchase is a proof point of the maturing LoRaWAN solutions market, illustrating the growth of a high volume, and proven value low power wide area IoT solution.
The exact terms of the deal are not being disclosed, with the exception of Senet providing critical network connectivity and build-out services to WESROC on an exclusive basis. Plans for integration are currently underway. WESROC and Senet are currently reaching out to respective customers, many of which already use both WESROC and EnerTrac tank monitors, and key partners to communicate this exciting news and to put any required action plans into place.
“We’re happy to welcome all EnerTrac customers to WESROC. They can rest assured that WESROC’s customer and technical support teams will provide uninterrupted assistance during this transition,” said Boyd McGathey, WESROC Chief Operations Officer.
McGathey emphasized, “With the addition of the Senet LoRa low-power wide area network to the existing WESROC cellular, satellite, and other communications methodologies, WESROC will be developing new monitoring hardware and services that will benefit both EnerTrac and WESROC customers.”
WESROC Monitoring Solutions is the industry leader in providing monitoring and business solutions to fuel, propane, and energy suppliers. WESROC is a division of Independent Technologies, Inc.