The US arm of Siemens has acquired leading energy consulting and management company Pace Global. The 36-year old company manages more than $5 billion (£3.22bn) in energy spend for its clients around the world and oversees a risk portfolio valued at approximately $10 billion.
Dave Hopping, Vice President of the U.S. Siemens Building Automation business unit said: “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. Together, Siemens and Pace Global have established a recognised and client-valued position in the marketplace.”
Pace Global will continue to operate as a separate operating unit within the Siemens Building Technologies division.