Acquisition provides immediate access to the streetlight pole infrastructure to deploy new applications and achieve better outcomes to communities
Milpitas, CA And Burlington, MA /PRNewswire/ - Outcomes-as-a-Service forerunner, Quantela announces today that it has acquired CIMCON Lighting, Inc., a leader in smart lighting and smart city technologies. This acquisition will provide Quantela with full coverage and access to the ubiquitous streetlight pole infrastructure to deploy innovative technologies and improve societal, and economic outcomes.
"Acquiring CIMCON gives Quantela the opportunity to access the streetlight pole infrastructure used to deploy CIMCON controllers," said Sridhar Gadhi, Quantela's Founder and Executive Chairman. "More importantly, the cost savings realized through the deployment of these controllers improves the commercial viability of the digitization business case, and therefore, improves Quantela's ability to deliver better outcomes to customers. The acquisition will provide existing and future customers with the security of a larger company, with more economies of scale, larger and more diversified talent, plus even more valuable outcomes."
"Quantela helps communities improve quality of life by providing technology enabled outcomes to its customers," said Amr Salem, Quantela's CEO. "These outcomes are realized in the form of incremental revenue or cost savings. Outcomes are powered by real-time data and predictive analytics from applications like digital advertising, traffic management, smart parking, public wi-fi and waste management to help communities achieve their goals. The addition of CIMCON's smart lighting capabilities will enable communities to immediately reduce streetlight energy consumption and maintenance costs," he added.
Quantela further supports communities through Outcomes-based Financing, a funding vehicle that helps communities invest in projects though cost savings and revenue generation from the implementation of smart technologies.
CIMCON, headquartered in Burlington, Massachusetts was founded in 2012 by Anil Agrawal. The company has over 200+ customers in 30 countries with 1.2 million streetlight controls deployed. The Burlington location will serve as Quantela's new U.S. headquarters. "I am excited for our customers as we can now offer a much broader portfolio of solutions that will help communities achieve greater societal outcomes," said Anil Agrawal.
Quantela, Inc. founded in 2015, is an Outcomes-as-a-Service (OaaS) company that specializes in urban infrastructure digitization. The company currently has over 100+ deployments across the globe. The company's U.S. based Silicon Valley headquarters will be transferred to Burlington, Massachusetts, with offices remaining in Europe, and Asia.