Minneapolis, October 20, 2010 — Titan Energy Worldwide has closed its acquisition of Stanza Systems, a network communications and smart grid development company based in Houston.
The acquisition of Stanza gives Titan Energy a platform for the development and management of its remote monitoring and automated controls systems for onsite power generation in the $4 billion demand response market. For more information, please see the Company’s Form 8K, which will be filed with the Securities and Exchange Commission.
Stanza Systems has been developing advanced network technologies for a host of Fortune 500 clients including Itron and BP, as well as leading technology firms such as Phoenix Contact. Stanza developers have been innovators of the wireless industry’s first processes and techniques for successful operation of large-scale wireless networks.
The Stanza Systems management team combines over 100 man years of successful experience in building industrial systems using advanced technologies such as high speed wireless communications, data collection/processing systems, network design/deployment and data center/network operations.
George Wren will continue in his role as president of Stanza, as will all the members of his management team.