International. Daikin confirmed the acquisition of Venstar, a provider of energy management systems and controls whose interior comfort technology and solutions are used in millions of residences and light commercial applications across the United States, Canada and Mexico.
The acquisition complements the growing market for Daikin's environmentally friendly interior comfort technologies, including its high-performance heat pump and inverter solutions and R-32 products.
Venstar, founded in 1992 and headquartered in Southern California, designs and builds a wide variety of innovative thermostats with more than 10 million installed. The company's Surveyor® energy management system enables retailers, restaurant chains and other multi-location businesses to remotely monitor, manage and control energy consumption while reducing maintenance expenses. Today, Surveyor is used to control more than 100,000 HVAC systems and building lighting in more than 30,000 retail locations across North America.
Under the new ownership as a wholly owned business unit of Daikin Comfort Technologies North America, Inc., Venstar will continue to be led by its existing management team, with Steve Dushane, founder, president and chief executive officer, as well as all current employees of the brand. Venstar's headquarters will remain in California and Daikin plans to maintain Venstar brand recognition, along with maintenance of all products.
"Venstar's advanced smart thermostats, control technology and outstanding power management systems will help support Daikin's leadership role in connected solutions, ensuring safe, environmentally friendly and top-performing HVAC system operations through cloud-connected monitoring and control." said Takayuki Inoue, executive vice president and director of sales and marketing at Daikin.
Steve Dushane, Founder, Chairman and Chief Executive Officer of Venstar, said, "We are excited to join a company with a strong commitment to innovation in indoor comfort and cultivating environmental sustainability. Daikin products are known for their technological leadership, energy efficiency, robust quality and high performance, all hallmarks of Venstar's products and services that will further enhance our brand portfolio."
