An important step in the creation of a Group that places people at the center of smart technology evolution in the world of Hospitality.
Pordenone, Italy – VDA Group, an Italian multinational operating in the field of Guest Room Management Systems (GRMS) designed for the Hospitality industry, has acquired 53% of the shares of Telkonet, Inc., a US-based company listed on the OTC market and operating in the field of Energy Management Systems (EMS). The new Group – with 7,000 properties and 2,450,000 products installed in facilities located in the United States, Europe, Middle East, and Asia – stands as the largest global player in a market currently without leadership, to define the future of the industry by emphasizing the value of People in the development of technologies aimed at comfort and energy savings.
Expansion and dimensional growth, synergy in technology and market, and an opportunity to be a unique proxy for Hotel chains. These are the objectives of the newly formed Group that sees the possibility of being a solution provider, the global reference point of IoT technologies applied to the world of Hospitality. The software and hardware proficiencies, technologies based on cloud, the ability to adapt to different design needs, allows you to continue to enhance Hotel comfort and put the person at the center of project development. The group delivers essential characteristics for an increasingly attentive market with solutions that enhance sustainability through energy savings and that aim to provide an inimitable guest experience.
“For Telkonet, this combination represents an excellent opportunity to expand our reach within markets outside the US and to be able to compete in an increasingly attractive and competitive field”, said Jason Tienor, CEO of Telkonet Inc. “I’m fully convinced that our combined Teams will introduce exceptional new alternatives in smart technology and room controls and successfully seize the opportunities offered by this new era of intelligent automation“.
“With Telkonet we have found the ideal partner, which on the one hand approaches the market in a way very similar to ours, placing People at the center, and on the other hand, completes the offering of our solutions thanks to their expertise in the world of Energy Management“, said CEO of VDA Group Piercarlo Gramaglia. “The end-to-end technology itself serves little, the goal we are setting is to put ourselves at the service of the Hospitality market, to ensure that the digital transformation in place increases its benefits exponentially. Sustainability and user experience can be enhanced if all the operators involved collaborate in this ambitious project“.
In support of this operation the law firms Moses & Singer LLP and Gianni & Origoni; in the role of financial advisors Scouting Capital Advisors and Blitzer, Clancy & Company.
About Telkonet https://www.telkonet.com/
CEO Jason Tienor https://www.linkedin.com/in/jasontienor/
Headquartered in Waukesha, Wisconsin, Telkonet is an innovative IoT company focused on Intelligent Automation and Energy Management, through the use of custom climate controls that allow hotel guests or home residents to intelligently control energy use according to their preferences, while reducing consumption and improving the management capacity of the facility. Telkonet was founded in 1999 and has successfully deployed over 700,000 intelligent climate control devices in more than 4,000 properties.
About VDA Group https://vdagroup.com
CEO Piercarlo Gramaglia https://www.linkedin.com/in/piercarlo-gramaglia-a9789a19/
VDA is an Italian company founded in 1980, based in Pordenone, which develops and manufactures advanced and integrated Guest Room Management System and Interactive TV, primarily in the global Hospitality market. VDA operates in 30 countries through subsidiaries in the United Kingdom, United Arab Emirates, Hong Kong, and Thailand, and has installed their solutions across 3,000 facilities worldwide.
Here is the press release of the first part of the financial operation, the signature.