PEARL RIVER, NY – December 6, 2012 – Hudson Technologies, Inc. (NASDAQ: HDSN), announced that it has acquired from Efficiency Technologies, Inc. (“ETI”) the proprietary Efftrack™ chiller efficiency software, customer list and its related assets to support Hudson’s chiller management and efficiency optimization product and service offering.
EffTrack™ is a state-of-the-art web-based chiller management program that provides in-depth, continual engineering analysis and immediate recommendations for correcting inefficiencies in chiller systems. The EffTrack™ chiller efficiency software is currently in use throughout the United States and in certain other geographies, serving a number of Fortune 500 companies as well as customers in Australia and the Pacific Rim.
Kevin J. Zugibe, Chairman and Chief Executive Officer of Hudson commented,
“Our acquisition of these assets from ETI, most notably the Efftrack™ proprietary software, expands and diversifies our own proprietary and patented efficiency offerings by providing a solution that enables new and existing customers to monitor and improve chiller performance and to proactively identify and correct system inefficiencies. ETI’s technology, which adds annuity based revenues, complements our ChillSMART® Performance Evaluation and Energy-Saving Assessments, and we look forward to offering this solution through our expanding distribution channels globally.”
Mr. Zugibe continued,
“We believe that the acquisition of this technology has significant strategic value to Hudson as it enhances our current suite of efficiency solutions and adds annuity based revenues. As a ‘cloud-based’ software solution, we believe that the Efftrack™ software, integrated with Hudson’s existing offerings, can grow into a source of high margin, recurring revenues.”
Financial terms of the transaction were not disclosed.
ETI is a subsidiary of EffTec International, Inc. (EFFI.pk)